Comcast shares climbed over 7% in pre-market trading on Thursday after the media giant beat Wall Street’s third-quarter expectations, boosted by the Paris Olympics, and said it would consider spinning off its struggling cable network portfolio into a standalone company.
Peacock posted a loss of $436 million during the quarter, a 22% improvement over a $565 million loss in the prior-year period. The streamer’s revenue grew 82% $1.5 billion, and it added 3 million paid subscribers for a total of 36 million, up 29%.
The Olympic games brought in record high revenue of $1.9 billion, with average daily viewership of 31 million across the company’s linear networks and Peacock, an 82% increase compared to the 2021 Summer Olympics.
Leave a Reply