Comcast beats Q2 revenue estimates as Peacock turns profitable

TV and streaming giant Comcast reported mixed second-quarter results as it prepares to spin out its film and TV business, NBCUniversal, into a separate company.

The company continued to lose customers in its core cable TV and broadband businesses. However, it reported adjusted earnings of $8.9 billion, beating analysts’ expectations of $8.84 billion.

Comcast’s media division posted a 25% increase in revenue, driven by strong demand for major sports programming, including the NBA and the FIFA World Cup. 

Peacock delivered
NBCUniversal’s streaming platform Peacock generated $189 million in Q2 EBITDA, well above analyst estimates and its first profitable quarter since debuting in 2020. The service also gained 2 million subscribers during the quarter, bringing its total subscriber base to 48 million.