Comcast Beats Wall Street Estimates With Strong Q2 But Peacock Premium Subscriber Levels Flat At 13M
Premium subscriber levels stalled at 13 million, but the streaming service helped drive an 8% year-over-year increase in distribution revenue. Losses at Peacock widened to $467 million, from $363 million a year ago. No overall monthly active user numbers were included with the financial results, but the company reported 28 million in April, ahead of pace to hit its own projection of 30 million to 35 million MAUs by 2025.
The earnings release did not include much context for Peacock’s sideways movement in the quarter, though it said the results followed “a very strong first quarter that was driven by a variety of extraordinary programming.
Investors reacted negatively to the results, sending Comcast shares down 6% in pre-market trading. While the company’s stock has been hit hard along with the rest of the media sector in 2022, its 15% decline to date is less pronounced than that of peers like Disney or Warner Bros Discovery.
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