Comcast (NASDAQ:CMCSA) reported second-quarter results that topped analyst expectations, sending its shares over 2% higher on Thursday.
The company posted a profit per share of $1.13 on revenue of $30.51 billion, ahead of the consensus for a profit per share of $0.98 on sales of $30.09B. The strong performance of its Media business offset lowered-than-expected revenue in the Studios segment.
Peacock saw its revenue surge 85% year-over-year to $820 million with the number of paid subscribers rising to 24M, beating the consensus by 1.2M.
“The consistent investments we've been making in our growth businesses continue to generate strong results and position us extremely well both now and into the future. Second quarter operational and financial performance was excellent and included a double-digit increase in Adjusted EPS and significant free cash flow generation," said Brian Roberts, chairman and chief executive officer of Comcast Corporation.
"This quarter contained a number of highlights and notable achievements. We not only continued to deliver solid revenue growth in our connectivity businesses but also expanded our Adjusted EBITDA margin at Connectivity & Platforms. We generated the best quarterly Adjusted EBITDA ever at Theme Parks, had the second-highest grossing animated film of all time in worldwide box office revenue with Super Mario Bros., and nearly doubled paid Peacock subscribers year-over-year.”