NBCUniversal's fourth-quarter ad revenue would have dropped when excluding incremental revenue from the FIFA World Cup due to the “softening” of the overall market, Comcast says.
Amid a recent industry-wide focus on restructurings and staff layoffs to boost profitability, the media and technology giant also disclosed $638 million in severance costs, or $541 million higher than in the year-ago period, hat hit its earnings in the fourth quarter. That included $305 million in higher severance costs related to its cable systems division, $182 million in severance costs related to NBCUniversal and $53 million in higher costs related to Sky.
Comcast, led by chairman and CEO Brian Roberts, had previously reported that Peacock’s paid subscribers in the U.S. had “surpassed 15 million” as of the end of the third quarter, meaning it added around 5 million in the final quarter of 2022. In early December, NBCU CEO Jeff Shell had told investors that the streamer had by then hit 18 million. On Thursday, the company said U.S.
In its fourth-quarter financial report, Comcast also posted NBCU earnings before interest, taxes, depreciation and amortization that fell 36.3 percent to $817 million from $1.28 billion amid higher expenses, even though revenue rose 5.9 percent to $9.89 billion. The unit also said its advertising revenue increased 4 percent in the fourth, “primarily due to incremental revenue from the FIFA World Cup, as well as an increase in Peacock advertising revenue.” That included $263 million in incremental ad revenue from the World Cup. Excluding that, the unit would have posted a 5.6 percent ad drop due to the “softening” of the overall market, management said.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NBCUniversal’s Peacock Tops 20M Paid Subs, Streamer’s Loss Widens to $978M in Fourth QuarterThe studios unit posted improved financials as theatrical revenue jumped 47.3 percent, 'primarily due to the successful performance of recent releases, including 'Ticket to Paradise,' 'Puss in Boots: The Last Wish,' 'Violent Night' and 'Halloween Ends'.'
Read more »
Pac-12 financial mess: Clarity emerges as Comcast overpayment took executives by surpriseThe conference asked for an audit in the spring of 2017 that triggered an unfortunate series of events.
Read more »
How to improve your home Wi-Fi without calling customer service, according to Comcast expertsContinued remote work can also mean continued Internet connectivity issues. Comcast offers some tips for how to improve your experience.
Read more »
Utah Jazz fans with Comcast cable get a streaming victoryComcast subscribers can now stream games on the AT&T SportsNet app. Team officials have said they hope to add more streaming options in their next broadcast deal.
Read more »
Comcast beats on earnings, but broadband woes continueComcast Corp. shares were rising in premarket trading Thursday after the company beat on fourth-quarter earnings expectations despite another sluggish...
Read more »
'Poker Face': Call Peacock's 'NOBLSHT' Hotline for Advice from Natasha Lyonne's Charlie CaleCharlie Cale is here to solve your mysteries—from mysterious disappearances to backstabbers Cale is calling out the BS.
Read more »