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Comcast Q4 Earnings: Peacock Losses Widen to $552 Million Despite Jump in Subs, Studios Revenue Drops 7%
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TheWrap
Total media revenue increased 5.5% to $7.62 billion due to higher international networks, domestic distribution and domestic advertising revenues.
Peacock added 3 million subscribers during the quarter for a total of 44 million, but the streamer’s losses widened to $552 million, from a loss of $372 million a year ago.
Peacock subscribers: Added 3 million paid subscribers for a total of 44 million.
Comcast completes Versant spinoffThe latest quarterly results come as Comcast completed the spinoff of its cable networks into Versant earlier this month.
It also plans to allocate 20% of its free cash flow for a dividend payment and seek board authorization for an up to $1 billion share repurchase.