Comcast Q2 Earnings: Theatrical Revenue Rises 65% on ‘Super Mario Bros.’ Release, Peacock Adds Just 2 Million Subs
27.07.2023 - 11:26
/ variety.com
Jennifer Maas TV Business Writer Comcast reported its second-quarter 2023 earnings Thursday, revealing theatrical revenue rose 65.9% year over year with the release of “The Super Mario Bros. Movie,” while Peacock added just 2 million more subscribers over the three month period. At the end of Q1, Comcast said the NBCUniversal streamer had reached 22 million U.S.
subscribers. As of the quarter ended June 30, the company says the platform has now hit 24 million subs. The streamer lost $651 million during Q2.
Elsewhere, revenue at Universal’s theme parks jumped 22% to $2.21 billion. Wall Street forecast earnings per share (EPS) of 97 cents on $30.13 billion in revenue, according to analyst consensus data provided by Refinitiv. Comcast reported adjusted EPS of $1.13 on $30.5 billion in revenue, representing a 11.9% for adjusted EPS and 1.7% increase year over year for revenue.
“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,” Comcast CEO Brian Roberts said in a letter to shareholders. “Second quarter operational and financial performance was excellent and included a double-digit increase in Adjusted EPS and significant free cash flow generation. This quarter contained a number of highlights and notable achievements.
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