Streamer Peacock Adds 2 Million Subscribers

Key Points:

• NBCUniversal's streaming service Peacock reported a $189 million profit in Q2, its first profitable quarter, adding 2 million paid subscribers to reach 48 million, driven by events like the FIFA World Cup and NBA Playoffs.
• Comcast's Studios division had a strong quarter, with the horror film Obsession grossing over $400 million and overall studio profits tripling to $202 million; Media and Studios revenue rose 25% to about $5.7 billion and $3 billion respectively.
• Total Comcast revenue fell 1.2% to $29.9 billion, beating Wall Street expectations, while net income dropped 68% due to a one-time gain in the prior year; the company is restructuring and preparing to spin off NBCUniversal and Sky into a standalone entity.
• The FIFA World Cup on Telemundo and Peacock achieved record Spanish-language viewership, with the final between Spain and Argentina drawing 23.9 million viewers, boosting Q3 outlook.
• Comcast's Connectivity & Platforms segment saw declines in residential customers and revenue, with broadband losses of 167,000 and video losses of 280,000, while wireless lines grew by 448,000; overall revenue fell 4.3% to $17 billion.