By using its Peacock streaming service’s robust growth and a smaller-than-expected loss in internet customers, Comcast which was able to surpass quarterly profit projections on Tuesday,. This was despite difficulties in the studio and amusement park sectors.
Despite facing stiff competition from the likes of AT&T and T-Mobile, the U.S. media and telecom giant said it lost 120,000 broadband customers, compared with FactSet’s predicted loss of 143,000.
Paid customers increased by 38% to 33 million, which drove a 27.5% increase in income to $1.05 billion for its Peacock streaming service.
The media behemoth is putting a lot of money into Peacock in order to counteract the loss from cord-cutting and compete with services like Disney+, Netflix
According to Nielsen statistics, some of the most streamed shows in the US during the reporting quarter included licensed programming, including “Law & Order: Special Victims Unit” and “Suits” on Peacock.
