A big comeback for NBCUniversal accelerated Comcast’s results in the second quarter as the media giant beat Wall Street’s forecasts.
Total revenue rose 20% to $ 28.5 billion, while earnings per share rose 22% to 84 cents. Wall Street analysts had expected earnings of 67 cents per share and sales of $ 27.2 billion.
At NBCU, Adjusted EBITDA rose 12.5% to $ 1.6 billion, including a loss of $ 363 million on Peacock, the company’s year-long streaming service. No new statistics were offered for Peacock, which had 42 million signups at the end of the first quarter, about a third of which were carried over to active users of the platform.
Comparisons with the second quarter of 2020, the depths of the coronavirus pandemic, were favorable. Theme parks had their first profitable quarter since the first in 2020, driven by Universal Orlando results.
NBCU’s total revenue rose 26% to $ 5.2 billion, driven by 33% growth in advertising and momentum in sales.
The release of F9 kicked off movie operations in the quarter, although studio revenue rose a more modest 8%.
At Comcast Cable, the numbers followed a familiar pattern. Net new additions to broadband customers totaled 354,000 while net losses from video customers totaled 399,000.