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Comcast posts Peacock profit as Charter closes Cox deal
Peacock reported its first quarterly profit of $189 million, while Charter had to cut its full-year profit outlook after its broadband losses worsened.
Comcast and Charter reported second-quarter results in the same week, with each cable operator delivering a contrasting message on their shifting business models, according to Yahoo Finance.
Comcast said it is splitting itself in two, planning to complete a media spinoff within a year that separates NBCUniversal, Sky, and Peacock from its broadband and cable unit. Peacock posted its first-ever quarterly profit of $189 million, helped by viewership tied to the World Cup and Love Island USA, but Comcast also lost 167,000 domestic broadband customers in the quarter, and profit fell to 99 cents per share from $2.98 a year earlier.
Charter, by contrast, is moving deeper into cable scale after closing a $21.9 billion deal to buy Cox Communications. Even as it finishes the acquisition, its core broadband business shrank faster than Wall Street expected, with Charter losing 172,000 broadband customers, worse than analysts anticipated, and it cut its full-year profit outlook as a result.
Comcast also said Peacock will be carried on YouTube Premium for more than 125 million subscribers starting in 2027, and NBCUniversal’s content and experiences segment grew revenue nearly 23% year over year. Theme park performance softened, with park profit down 5.1% after weaker Orlando attendance and impacts from Osaka and Beijing tied to China-related travel restrictions.