Comcast Leans Into Strengths In Q3, Posting Broadband And Theme Park Gains To Top Wall Street Q3 Expectations
revenue jumped 58% to $10 billion in the quarter. Advertising revenue in the Media segment increased 73%, a leap the company credited to Olympics broadcasts, higher pricing and additional Peacock sales.
Studios revenue climbed 27% to $2.4 billion as theaters reopened and Universal recorded strong ticket sales fromRevenue in the theme parks unit nearly doubled compared to the Covid-decimated 2020 period, gaining $1.1 billion to $1.4 billion. Adjusted EBITDA in the parks division was $434 million in the quarter, including pre-opening costs related to Universal Beijing Resort. The year-earlier quarter saw a $174 million Adjusted EBITDA loss.
The earnings release did not include any statistics for Peacock, the direct-to-consumer streaming service launched in the spring of 2020. Last July, Comcast said the outlet had hit 54 million users, 20 million of which were active on a monthly basis. The company has not yet broken out the number of subscribers for the higher, premium tier of Peacock.
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