Comcast Forecasts Peacock Profitability Following Strong First Quarter

During a first-quarter 2026 earnings call, Comcast executives announced that its Peacock streaming service is on track to approach profitability for the first time in the second quarter of 2026. The company reported a meaningful inflection point as sports rights costs stabilize, specifically the amortization of NBA deal costs.

Peacock's growth was propelled by a high-profile February featuring the Milan Cortina Winter Olympics, Super Bowl 60, and the NBA All-Star game. These events helped Peacock reach 46 million paid subscribers, including 2 million net new additions in the quarter. Revenue for the streamer rose more than 70% to over $2 billion, though the service still posted a first-quarter EBITDA loss of $432 million.

Overall Comcast revenue for the quarter rose to approximately $31.5 billion, beating analyst expectations. While domestic broadband customers declined by 2.99 million year-on-year, the company noted a reduction in net broadband losses for the first time since 2020. Management plans to offset pressure on broadband ARPU by converting free wireless lines to paid relationships in the second half of the year.