Comcast beat Wall Street’s expectations for third-quarter earnings — despite headwinds in its theme parks business — thanks to continued strength in its media unit.
The company’s Peacock streaming service reported a quarterly profit for the second time since its launch in 2020, posting $261 million in adjusted earnings before interest, taxes, depreciation and amortization on $1.8 billion in revenue.
The streaming platform continued to reap the benefits of record-high viewership for the FIFA World Cup, as the final games played out at the beginning of the quarter and aired on NBCUniversal’s Telemundo and on Peacock.
Revenue in Comcast’s media division, which includes the streaming service, rose 13% compared with the third quarter last year to $5.4 billion. The overall content and experiences unit, which also includes its film studio and theme parks, saw revenue rise 6.5%.
Comcast’s connectivity and platforms sector, however,…
