Comcast Shrugs Off Domestic Ad Dip To Top Wall Street Q3 Estimates; Peacock Hits 28M Paid Subscribers

deadline.com:

Comcast beat Wall Street estimates for third-quarter revenue and earnings despite an 8% year-over-year drop in domestic advertising.

The NBCUniversal parent reported revenue of $30.1 billion in the period ending September 30, up 1% from the same quarter of 2022.

Earnings per share reached $1.08 on an adjusted basis, up from 96 cents a year ago. Peacock, the flagship streaming service at NBCU, picked up 4 million paid subscribers during the quarter, reaching 28 million.

Its revenue shot up 64% year-over-year to reach $830 million, as losses narrowed. The streaming service posted an adjusted EBITDA8 loss of $565 million, an improvement over the $614 million in the prior-year period.