Comcast reported a 47% increase in net income to $4.78 billion, or $1.24 per share, for the fourth quarter, surpassing Wall Street’s expectations. However, the company lost 139,000 residential broadband customers, exceeding the anticipated 100,000 losses. Peacock, Comcast’s streaming service, maintained 36 million subscribers, flat from the previous quarter but up year over year. Despite these subscriber challenges, Peacock’s revenue grew to $1.3 billion, with an adjusted EBITDA loss of $372 million, an improvement from last year’s $825 million loss. Comcast’s overall revenue rose by 2% to $31.92 billion, driven by growth in its mobile business, film studio, and Peacock. The company’s adjusted earnings before interest, taxes, depreciation, and amortization increased by about 10% to $8.81 billion. Comcast shares fell over 8% in premarket trading following the announcement.
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