Comcast Corp (NASDAQ:CMCSA) reported better-than-expected earnings for its fourth quarter on Thursday.
The company posted 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 96 cents, beating analyst consensus estimates of 86 cents.
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.
“We had the best financial performance in our company’s 60-year history with record revenue, EBITDA and EPS along with significant free cash flow,” said Brian L. Roberts, Chairman and Chief Executive Officer of Comcast Corporation.
Comcast shares dipped 11% to close at $33.25 on Thursday.
These analysts made changes to their price targets on Comcast following earnings announcement.
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