Comcast's Peacock records first ever profit on World Cup, 'Love Island USA' boost
Revenue and profit beat estimates
Total revenue of $29.94 billion and adjusted profit of $1.04 per share beat estimates, according to data compiled by LSEG.
(Reporting by Harshita Mary Varghese in Bengaluru; Editing by Leroy Leo)
Peacock posts first quarterly profit on subscriber growth
July 23 (Reuters) - Comcast's Peacock streaming service reported its first quarterly profit ever on Thursday, as the soccer World Cup and the hit reality show "Love Island USA" attracted more subscribers.
The $189 million pre-tax profit marks a major win for the streaming service, which was a late entrant in 2020 and had to spend billions of dollars on content to establish a foothold in a market dominated by Netflix, Disney+ and Amazon Prime Video.
The service added 2 million paid subscribers in the April-June quarter, nearly four times the figure expected by analysts who were polled by Visible Alpha. The additions took its total to 48 million. Its sales rose 54% to $1.90 billion, also ahead of estimates.
