NBCUniversal Recovery Paces Strong Q2 Results For Comcast

NBCUniversal Recovery Paces Strong Q2 Results For Comcast
A significant comeback for NBCUniversal paced Comcast’s results in the second quarter as the media giant handily beat Wall Street forecasts.

Total revenue climbed 20% to $28.5 billion, while earnings per share increased 22% to 84 cents. Wall Street analysts had expected earnings of 67 cents a share and revenue of $27.2 billion.

At NBCU, adjusted Ebitda rose 12.5% to $1.6 billion, even including a loss of $363 million on Peacock, the company’s year-old streaming service. (The company had long projected a money-losing start to the service.) No new user stats were offered for Peacock, which had 42 million sign-ups as of the end of the first quarter, about one-third of which translated to active users.

Peacock launched in April 2020 on Comcast’s own broadband and pay-tv platforms before going national in July of last year. Take-up has thus far been modest by comparison with rival services and the company has been exploring a range of strategic options.
See full article at Deadline »

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