Comcast revealed that the service lost $978 million in Q4 despite gaining 5 million new subscribers. | Image: Peacock
Comcast published its fourth quarter 2022 earnings on Thursday, reporting that the company had managed to exceed analyst projections for the year despite losing broadband and video subscribers and widening losses from its Peacock streaming service.
Peacock — the streaming platform for Comcast-owned NBCUniversal — reported a loss of $978 million during the company’s fourth financial quarter, a sizable jump from the $559 million loss reported in the same quarter last year. Comcast expects Peacock’s total losses to peak at around $3 billion. “We believe 2023 will be peak losses for Peacock and, from there, steadily improve,” said Comcast president Michael Cavanagh during a company earnings call (via CNBC).