Peacock, the streaming service of Comcast’s leisure unit NBCUniversal, hit an even bigger loss, however NBCU general grew its earnings, Comcast disclosed in its first-quarter earnings report on Thursday.
“Media results include $472 million of revenue and an adjusted EBITDA loss of $456 million related to Peacock, including amounts attributable to the 2022 Beijing Olympics and the NFL’s Super Bowl, compared to $91 million of revenue and an adjusted EBITDA loss of $277 million in the prior year period,” the corporate stated.
The media, leisure and expertise conglomerate didn’t instantly share an replace on Peacock signups or month-to-month lively customers.
Beginning within the first quarter of 2021, the monetary outcomes of Peacock, beforehand reported within the “corporate and other” section, have been included within the outcomes of NBCUniversal, led by CEO Jeff Shell. The firm’s Thursday replace disclosed that its first-quarter adjusted lack of earlier than curiosity, taxes, depreciation and amortization associated to Peacock amounted to $456 million.
Comcast additionally reported NBCU’s first-quarter adjusted earnings earlier than curiosity, taxes, depreciation and amortization (EBITDA), which rose 7.4 %, and different outcomes, in addition to subscriber and monetary developments at its core cable programs, the place pay TV prospects declined additional, and its European pay TV enterprise Sky.
Comcast is led by chairman and CEO Brian Roberts who touted the corporate’s newest outcomes and general momentum. “Our media business is performing well, and the scale of our reach is underscored by our successful broadcast of the Super Bowl and the Olympics in the same week,” he stated. “These events were viewed by more than 200 million people in the U.S. across NBCUniversal’s platforms, including Peacock, which had an exceptional quarter.”