Peacock Turns Its First-Ever Profit in Q2 as NBCUniversal Split Looms

Almost exactly six years after NBCUniversal first launched Peacock, the streaming service reported its first-ever profitable quarter.

Comcast reported its Q2 earnings early Thursday, with EBTIDA of $189 million, and subscribers growing to 48 million, driven by the NBA playoffs, FIFA World Cup, and Love Island.

Overall, Comcast’s content and experiences businesses reported revenue of $10.7 billion, up 22.9 percent from a year ago, and adjusted EBITA of $1.3 billion, up 7.1 percent.

Media revenue was $5.7 billion, up 25 percent, with adjusted EBITDA of $708 million. The FIFA World Cup, for which Telemundo had Spanish-language rights, brought in an astonishing $440 million in incremental revenue in the quarter, but the company would have been up regardless.

Driven by the Super Mario Galaxy Movie and Obsession, studios revenue soared 25 percent to $3 billion, with adjusted EBITDA of $202 million. Comcast co-CEO Mike Cavanagh also called out Christopher Nolan’s The Odyssey, even though it did not contribute to Q2, telling Wall Street analysts that the film “became one of the defining theatrical events of the year, reinforcing the power of our creative partnerships and ambitious storytelling, with The Odyssey becoming Nolan’s biggest global opening of all time.”