Comcast said Peacock generated revenue of $4.9 billion and costs and expenses of $6.7 billion in 2024, compared to $3.4 billion and $6.1 billion in 2023, respectively. Paid subscribers increased by 5 million to 36 million in 2024, which includes the Paris Olympics.

1. 01

   Comcast said Peacock generated revenue of $4.9 billion and costs and expenses of $6.7 billion in 2024, compared to $3.4 billion and $6.1 billion in 2023, respectively. Paid subscribers increased by 5 million to 36 million in 2024, which includes the Paris Olympics.

2. 02

   The company said Media segment revenue increased primarily due to the Paris Olympics in 2024. Excluding $1.9 billion of incremental revenue associated with this event, the company said revenue increased due to increases in domestic distribution and international networks revenue.

3. 03

   Comcast repurchased 212 million shares of Class A common stock for $8.6 billion in 2024 and paid $4.8 billion of dividends. In Q4 2023, the company exercised its put right requiring Disney to purchase its interest in Hulu and received $8.6 billion. It said it expects to receive additional proceeds for the sale of its interest in Hulu following the final determination of Hulu's fair value pursuant to a third-party appraisal process.

4. 04

   In November 2024, Comcast announced its intention to create SpinCo, a new independent publicly traded company through a tax-free spin-off. The company said it is targeting to complete the Spin-off by the end of 2025, subject to the satisfaction of customary conditions. It added there can be no assurance that a separation transaction will occur.

Key figures

Fiscal year ended December 31, 2024

Revenue

$123.7B

Operating income

$23.3B

Net income

$16.2B

EPS

$4.14

Operating cash flow

$27.7B

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.

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.