Comcast’s Q4 Earnings and Revenue Surpass Expectations Driven by Peacock and Theme Parks
Comcast exceeded analyst forecasts in Q4 earnings and revenue, fueled by strong growth in its Peacock streaming service and theme park operations.
Highlights
- Comcast reported Q4 earnings of $3.26 billion, or 81 cents per diluted share, outperforming analyst predictions.
- Revenue increased 2.3% year-over-year to $31.25 billion, with Peacock streaming revenue surpassing $1 billion for the first time.
- Peacock gained 3 million new subscribers during the quarter, while theme park revenue rose by 12.2%.
Comcast (CMCSA) delivered better-than-expected results in the fourth quarter, driven by robust performance from its Peacock streaming platform and theme park business. Shares rose more than 4% in early trading following the announcement.
The company posted net income of $3.26 billion, or 81 cents per diluted share, exceeding analyst consensus compiled by Visible Alpha. This compares to $3 billion and 70 cents per share in the same quarter last year.
Revenue climbed 2.3% year-over-year to $31.25 billion, surpassing the $30.6 billion estimate. This growth was supported by a 12.2% increase in theme park revenue, boosted by the popularity of Super Nintendo World in Hollywood. Additionally, Peacock streaming service achieved its first quarter generating over $1 billion in revenue.
Subscriber Metrics
While Comcast experienced a decline in residential broadband customers during the quarter, Peacock added 3 million subscribers, though this was a slowdown compared to the 5 million added in Q4 2022.
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