Peacock growth boosts Comcast
April 28, 2022
Comcast has announced strong subscriber growth in its Peacock streaming service which benefitfed from the return of major sporting events, as well as a post-pandemic boost from its theme parks.
The company posted a 9 per cent increase in adjusted earnings before interest, tax, depreciation and amortisation, at $9.2 billion in the first quarter, ahead of analysts’ expectations. Revenue rose 14 per cent to $31 billion.
Comcast is to return no less than $4.2 billion to shareholders; $3 billion in share repurchases and $1.2 billion in dividends.
Comcast’s NBCUniversal division, which includes Peacock, posted a 46.6 per cent quarter-on-quarter increase in revenue to $10.3 billion, and a 7.4 per cent increase in adjusted ebitda, to $1.6 billion.
The company recorded strong subscriber growth in its Peacock streaming service, bolstered by the popularity of its coverage of the Olympic Games and the 2022 Super Bowl.