Thu, 30 Jan 2025

Comcast stock falls 11% after company underwhelms in broadband, Peacock subscribers

Peacock had 36 million subscribers during the most recent quarter, up year over year but flat from the prior period.
Comcast's overall revenue was up 2% to $31.92 billion, thanks to an increase in segments including its mobile business and revenue growth at streaming service Peacock. The company's Connectivity and Platforms segment, which includes broadband and Xfinity Mobile wireless, saw a boost from the latter's 7.8 million mobile lines. Comcast reported net income of $4.78 billion, or $1.24 per share, for the quarter ended December 31, up roughly 47% from the same period last year. Adjusted earnings before interest, taxes, depreciation and amortization was up about 10% to $8.81 billion. Revenue for Comcast's Content and Experiences business, which includes NBCUniversal's TV networks and streaming, was up 5% to $12.08 billion during the fourth quarter. Peacock had revenue of $1.3 billion in the latest quarter, with an adjusted EBITDA loss of $372 million compared to $825 million last year. Comcast's shares fell 11% on Thursday following the release of its quarterly earnings report.
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