Comcast Handily Beats Wall Street’s Q4 Forecasts; ‘Wicked’ Boosts Studio Results, Peacock Trims Losses

deadline.com:

Comcast closed 2024 with a strong quarter, handily beating Wall Street estimates. Revenue of $31.9 billion topped the Street’s expectations for $31.6 billion, rising 2% over the year-ago period, while adjusted earnings per share of 96 cents were a dime better than the consensus forecast.

In the Content & Experiences division, revenue rose 3.5% to $7.2 billion, with distribution growth pacing the Media segment.

The Studios unit saw a 85% year-over-year burst in EBITDA and 7% revenue growth to $3.27 billion thanks to the box office performances of Wicked and The Wild Robot.

Lower domestic theme park attendance kept revenue at the parks unit flat, while EBITDA sagged 4%. Peacock, the company’s nearly 5-year-old streaming service, is still not yet breaking even but revenue jumped 28% in the quarter to $1.3 billion.