The company said the Affordable Connectivity Program funding expired in Q2 2024 and resulted in an estimated net loss of about 96,000 residential domestic broadband customers in Q3 2024.

10-QQuarterly reportFiled Oct 31, 2024Period of report Sep 30, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

The company said the Affordable Connectivity Program funding expired in Q2 2024 and resulted in an estimated net loss of about 96,000 residential domestic broadband customers in Q3 2024.
The company said Media segment revenue for the 3 months ended September 30, 2024 included $1.5 billion related to Peacock, and costs included $1.9 billion, including amounts related to the Paris Olympics. It said Peacock had 36 million paid subscribers, compared with 28 million a year earlier.
The company cited the Paris Olympics in Q3 2024 as the main driver of the increase in Media segment revenue for the 3 and 9 months ended September 30, 2024. It also said the increases in programming and production costs and marketing and promotion expenses included costs related to the Paris Olympics.
The company said it entered into new agreements with the NBA and WNBA in July 2024 for the television and streaming rights to certain regular season and postseason games, from the 2025-26 season through the 2035-36 season, with total rights fees of $27 billion.

Key figures

Quarter ended September 30, 2024

Revenue: $32.1B
Operating income: $5.9B
Net income: $3.6B
EPS: $0.94

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Affordable Connectivity Program Ends and Broadband Customers Decline

The company said the Affordable Connectivity Program funding expired in Q2 2024 and resulted in an estimated net loss of about 96,000 residential domestic broadband customers in Q3 2024.

Source · Based on the MD&A text of the filing

Peacock Revenue, Costs and Paid Subscribers

The company said Media segment revenue for the 3 months ended September 30, 2024 included $1.5 billion related to Peacock, and costs included $1.9 billion, including amounts related to the Paris Olympics. It said Peacock had 36 million paid subscribers, compared with 28 million a year earlier.

Source · Based on the MD&A text of the filing

Paris Olympics Impact on Media Segment

The company cited the Paris Olympics in Q3 2024 as the main driver of the increase in Media segment revenue for the 3 and 9 months ended September 30, 2024. It also said the increases in programming and production costs and marketing and promotion expenses included costs related to the Paris Olympics.

Source · Based on the MD&A text of the filing

NBA and WNBA Media Rights Agreements

The company said it entered into new agreements with the NBA and WNBA in July 2024 for the television and streaming rights to certain regular season and postseason games, from the 2025-26 season through the 2035-36 season, with total rights fees of $27 billion.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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