Comcast, led by chairman and CEO Brian Roberts, reported that Peacock, its streaming service, has seen significant growth. In the fourth quarter of 2023, Peacock’s revenue surpassed $1 billion for the first time, marking a 57 percent increase. The service also narrowed its loss to $825 million, compared to $978 million in the year-ago period, while reaching 31 million paying subscribers by the end of 2023.
Comcast also reported its highest-ever fourth-quarter and full-year adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for its theme parks unit. The company lost 389,000 pay TV subscribers in the fourth quarter but gained 34,000 broadband subscribers.
Looking ahead, CEO Brian Roberts expressed pride in the company’s performance and highlighted the successful NFL Wild Card game on Peacock. He emphasized the company’s unique and complementary capabilities, expressing confidence in their ability to capitalize on future opportunities.
Comcast’s president, Mike Cavanagh, reiterated that the company is cautious about pursuing any deals, stating that the “bar is very high” for them to engage in any acquisitions. Roberts also mentioned the company’s record-breaking performance in 2023 and its investments in future growth, as well as its commitment to returning value to shareholders and maintaining a healthy balance sheet.
