:max_bytes(150000):strip_icc()/GettyImages-170337837-ae485edb29704a71b838d544feff3f56.jpg)
Key Takeaways
- Comcast’s fourth quarter earnings of $3.26 billion or 81 cents per diluted share beat analyst expectations.
- Revenue grew 2.3% from a year earlier to $31.25 billion, with Peacock quarterly revenue crossing $1 billion for the first time.
- Peacock added 3 million subscribers in the quarter, while theme park revenue rose 12.2%.
Comcast’s (CMCSA) fourth quarter earnings and revenue surpassed analyst expectations, driven by gains in Peacock streaming services and its theme parks business. The company’s shares jumped over 4% in early trading Thursday.
Comcast reported $3.26 billion in net income or 81 cents per diluted share, higher than analyst consensus compiled by Visible Alpha. In the year-ago quarter, those figures stood at $3 billion and 70 cents per share, respectively.
Revenue grew 2.3% year-over-year to $31.25 billion, above the $30.6 billion analysts pegged for the quarter, driven by a 12.2% increase in theme park revenue stemming from the success of Super Nintendo World in Hollywood. Comcast’s Peacock streaming platform also recorded its first quarter with more than $1 billion in revenue.
| Q4 2023 | Analyst Estimates for Q4 2023 | Q4 2022 | Year-over-year % change | |
|---|---|---|---|---|
| Revenue | $31.25 billion | $30.4 billion | $30.6 billion | 2.3% |
| Diluted Earnings Per Share | $0.81 | $0.70 | $0.70 | 15.7% |
| Net Income | $3.26 billion | $2.8 billion | $3.02 billion | 7.8% |
Key Metrics: Subscribers
Comcast continued to lose residential broadband customers in the quarter. It added 3 million Peacock subscribers in the quarter, but that’s a lower number compared to the 5 million it added in the final quarter of 2022.