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Comcast Q4: Peacock's Loss Widens Despite Advertising, Sub Gains https://ift.tt/zCsODnJ Peacock’s losses widened in Q4 2022 despite advertising, subscription and overall revenue gains during the period, parent company Comcast reported in its earnings call today. The streaming service helped drive a 4% gain in advertising for NBCUniversal’s media unit, to $2.86 million, and more than doubled its overall revenue year-over-year, to $2.1 billion, according to CEO Brian Roberts. Peacock also hit 20 million in paid subscribers by year’s end — more than double the number at the close of 2021, and up from more than 15 million at the end of 2022’s third quarter, representing the streamer’s strongest growth since its launch quarter in 2020. Growth was driven by live sports—including coverage of FIFA World Cup tournament (also on Telemundo) and Peacock’s recent original films and shows, Comcast said. advertisement advertisement However, increased expenses resulted in an adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) loss of $978 million for Peacock in the period, up from Q4 2021’s $559 million in losses. NBCU’s media unit as a whole recorded $660 million in revenue, up from Q4 2021’s $335 million. Despite a revenue gain of $5.9%, to $9.89 billion, NBCU overall saw EBITDA drop 36.3%, to $817 million, from $1.28 billion a year ago, again reflecting increased expenses — including a large severance hit of $541 million due to restructuring ultimately aimed at reducing overall costs. Comcast’s adjusted profits of 82 cents per share were up 6.5% year-over-year, and 5 cents higher than analysts’ consensus forecast. Revenues rose 0.6% to $30.52 billion, beating estimates of $30.32 billion. "Importantly, we achieved these results while continuing to invest in broadband, our 10G network evolution, Xfinity Mobile, Peacock, and theme parks, and we also took cost actions to further our growth in the future," Roberts stated in the results release. Comcast’s cable business, its largest unit, saw revenue rise 1.4%, to $16.64 billion, ana added 365,000 wireless lines. The company lost 440,000 video subscribers and 26,000 broadband subscribers in the quarter, although it estimated it would have added 4,000 broadband subscribers were it not for negative impacts from Hurricane Ian in Florida. Revenue at Comcast’s Sky pay-TV unit declined to $4.4 billion from $5.1 billion a year ago. Theme-park revenues rose 12%, to $2.11 billion. Mobile Marketing via MediaPost.com: mobile https://ift.tt/tqEvs7r January 26, 2023 at 10:03AM
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