Comcast Q4 Earnings Beat Estimates: Peacock Subscribers Surge 29%, Dividend Raised, $15 Billion Buyback Approved

Comcast Corp CMCSA reported a fourth-quarter revenue growth of 2.1% year-over-year to $31.92 billion, beating the analyst consensus estimate of $31.64 billion.

The company reported adjusted EPS of $0.96, beating analyst consensus estimates of $0.86. The stock price declined after the earnings report.

Also Read: T-Mobile Q4 Earnings: Beats Estimates, Adds 1.9 Million Postpaid Customers, Targets 6 Million New Customers In 2025

The media segment posted revenue growth of 3.5% year over year to $7.22 billion.

Peacock’s paid subscribers increased 29% Y/Y to 36 million while revenue grew by 28% year over year to $1.3 billion.

Studios’ revenue increased by 6.7% Y/Y to $3.27 billion due to higher theatrical revenue, including Wicked and The Wild Robot.

Theme Parks revenue increased by 0.1% Y/Y to $2.37 billion due to lower revenue at its domestic theme parks, driven by lower guest attendance.

Connectivity & Platforms adjusted EBITDA grew 3.5% Y/Y to $7.84 billion, with a margin expansion of 120 bps to 38.3%.

Comcast said it generated $3.26 billion in free cash flow during the quarter.

Comcast lost 139,000 broadband customers in the period amid rivalry with telecom companies. Comcast also lost 311,000 video subscribers as streaming giants like Netflix Inc NFLX gained traction.

Total domestic wireless line net additions reached 307,000.

Dividend and Buyback: Comcast increased its dividend by 6.5% Y/Y to $1.32 per share on an annualized basis or $0.33 per share quarterly for 2025.

The Board also approved a new share repurchase program authorization of $15 billion, effective January 31, 2025.

Comcast expressed conviction in Comcast Business’s acquisition of Nitel, the opening of Epic Universe as well as the return of the NBA and WNBA to NBC and Peacock in 2025. 

CMCSA Price Action: At the last check on Thursday, Comcast stock was down 3.08% at $36.21 premarket.

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