Peacock Adds 2M Subscribers In Q2, Turns First Profit; Studio A Standout As Comcast Plots Next Big Move - Deadline

What the report says

Deadline reported that Comcast’s NBCUniversal streamer Peacock posted its first quarterly profit in the three months ending in June, recording $189 million in profit while adding 2 million paid subscribers for a total of 48 million. Comcast said Peacock benefited from major sports and entertainment programming, including the FIFA World Cup, NBA Playoffs and Love Island USA.

The results were part of Comcast’s quarterly earnings release Thursday, the first since the company announced plans to divide into two businesses. Deadline said Comcast revenue slipped 1.2% from the same period a year earlier to $29.9 billion, while adjusted earnings per share and revenue came in ahead of Wall Street expectations. Net income fell sharply, but the comparison was affected by a large one-time Hulu-related gain in the prior-year quarter.

NBCUniversal’s Studios division was highlighted as a strong performer, with revenue rising about 25% to roughly $3 billion and profit more than tripling to $202 million. Deadline cited the breakout box-office performance of the horror film Obsession, the continued success of The Super Mario Galaxy Movie and other film activity as contributors. Media revenue also rose about 25% to about $5.7 billion, with profit up 3.7% to $708 million.

Comcast is also preparing another major corporate change after its Versant spinoff, with plans to separate NBCUniversal and Sky from its Connectivity & Platforms business. Deadline reported Mike Cavanagh is expected to run the NBCUniversal company, while former Comcast CFO Michael Angelakis is slated to become Comcast CEO after the separation, expected in about a year.