Comcast Handily Beats Wall Street's Q4 Forecasts; ‘Wicked' Boosts Studio Results, Peacock Trims Losses

Core Insights - Comcast closed 2024 with strong financial performance, exceeding Wall Street estimates with revenue of $31.9 billion, a 2$7.2 billion, driven by distribution growth in the Media segment [2] - The Studios unit experienced an 85% year-over-year increase in EBITDA and 7% revenue growth to $3.27 billion, attributed to successful box office performances of "Wicked" and "The Wild Robot" [2] - Full-year 2024 results were described by CEO Brian Roberts as the best financial performance in the company's 60-year history, with record revenue, EBITDA, and EPS, alongside significant free cash flow [4] Group 2: Streaming and Customer Metrics - Peacock's revenue increased by 28$1.3 billion, although it is still not breaking even, with EBITDA losses reduced to $372 million, less than half of the previous year's level [3] - The number of domestic video customers decreased by 389,000, ending the year at 12.5 million, as Charter Communications surpassed Comcast as the No. 1 pay-TV operator in the U.S. [4] Group 3: Organizational Changes - NBCU is undergoing restructuring, with new leadership overseeing a revamp of the organizational chart, following the departure of key executives [5]