Comcast Beats Q4 Earnings: NBCU Revenue Rises 9.5% as Peacock Tops 24 Million Monthly Active U.S. Accounts

Comcast reported its fourth-quarter 2021 earnings Thursday, beating Wall Street’s expectations on both revenue and earnings. NBCUniversal revenue was $9.338 billion, up 25.6% from the previous year’s Q4. Meanwhile, Peacock Monthly Active Accounts (MAAs) in the U.S. hit 24.5 million by the end of 2021.

Overall, Comcast’s Q4 2021 revenue was $30.336 billion, up 9.5% versus the year-earlier period. The company posted net income of $3.057 billion and adjusted earnings of 77 cents per share, compared to $3.380 billion and 56 cents in the comparable quarter in 2020. Wall Street analysts on average expected Comcast to report revenue of $29.61 billion and EPS of 73 cents for the year-end quarter, per Refinitiv data.

“Comcast’s strong operating and financial performance in 2021 was underscored by our highest full-year revenue, adjusted EBITDA, adjusted EPS, and free cash flow on record,” Comcast CEO Brian L. Roberts said in a prepared statement accompanying the financials. “We continue to execute extraordinarily well, strengthening our leadership position in connectivity, aggregation, and streaming, while working to have a lasting impact on our communities through our commitment to DE&I and digital equity. Looking ahead, we remain focused on our many exciting organic growth opportunities across all of our businesses. Our top priority is increasing the capacity of our network in the U.S. and further improving our world-class broadband experience. We are producing more of the premium content that our viewers love and continue to provide them with multiple ways to access it, including on Peacock while ramping construction of Epic Universe and welcoming even more guests to our Theme Parks. And, significantly, we are expanding the reach of our proprietary global technology platform and addressable customer base, starting with Sky Glass and XClass TV. Our confidence in the future is reflected in today’s announcement that we are increasing the dividend for the 14th consecutive year.”

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Comcast stock closed Wednesday at $48.39 per share. The regular U.S. stock markets will reopen at 9:30 a.m. ET.

Roberts and other Comcast executives will host a conference call at 8:30 a.m. ET to discuss the quarter in greater detail.

More to come…

Source: variety.com

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