Peacock nearing profitability in Comcast’s Q2 earnings
Peacock nearing profitability in Comcast’s Q2 earnings
The company also got a boost from completing its sale of Hulu to Disney in the second quarter.
Earnings season is officially upon us. Comcast is the latest company to report its results from the second quarter of 2025, revealing on Thursday that it once again had reasons for optimism going forward. Comcast’s earnings report shows that while Peacock may not have gained any subscribers, it is getting closer to another key goal: profitability. That, plus a nice little boost from completing the sale of Hulu, likely has Comcast execs and investors in a relatively good mood heading into August.
Key Details:
- Right down the middle: Peacock’s subscribership stayed flat at 41 million.
- The check clears: Comcast profits in the quarter were boosted by closing the sale of Hulu.
- Losses persist: Comcast shed 226,000 broadband customers and 325,000 pay-TV viewers.
Peacock didn’t gain any subscribers in the second quarter, but it didn’t lose any either. The streamer’s subscribership stayed flat at 41 million, after jumping to that number in the first quarter. However, in better news for the streamer, its revenue grew to $1.2 billion, and losses were narrowed to $101 million, compared to a loss of $348 million in the corresponding quarter in 2024.
Overall, Comcast had a net income in the quarter of $11.12 billion, which was boosted by a check from Disney for Comcast’s former stake in Hulu. In June, Disney sent Comcast the final payment to complete its full acquisition of the streamer. Disney paid Comcast an additional $438.7 million to wrap up the process after months of arbitration, following a previous payment of over $8 billion.
Despite the results from Peacock and a hefty profit overall, it wasn’t all good news for Comcast. The company lost 226,000 broadband accounts during the quarter, and most of them were residential customers. The company also shed 325,000 pay-TV customers, though it was able to add 378,000 mobile subscribers in Q2 to balance out that particular loss.
Revenue from NBCUniversal rose to $6.44 billion, but even this largesse comes with a cautionary note. Domestic advertising at NBCU networks fell 7% to $1.85 billion, yet another sign that Comcast is making a wise move in spinning off the majority of its cable channels into a separate company.
Comcast is trying to execute a pivot that most companies are finding difficult these days: the change from a linear entertainment company to a digital one. There are clear bumps along the road, but the company is inching closer to some key goals, most notably profitability for its flagship streaming service.
Peacock
Peacock is a subscription video streaming service from NBCUniversal that includes original shows, blockbuster movies, and classic television series. Peacock is home to “Yellowstone,” “The Office,” and original hits like “Poker Face” and “Bel-Air.” You can also watch live sports and NBC programming, including the NFL, MLB, WWE, the Olympics, the Premier League, NASCAR, the French Open, college football and basketball, and the PGA Tour. Premium Plus subscribers can stream their local NBC feed in all 210 markets.