Comcast Reports Subscriber Losses Amid Revenue Growth

Comcast reported disappointing subscriber numbers for its streaming service Peacock and broadband unit in its fourth-quarter earnings, leading to a 10% decline in stock. Peacock maintained its subscriber count at 36 million, despite analysts expecting an increase, while the company lost 139,000 broadband customers due to rising competition and disruption from hurricanes. Although total revenue rose 2.1% to $31.92 billion, driven by strong performance in its studios, the company still struggles with cord-cutting trends, losing 311,000 cable TV subscribers. Despite these challenges, Comcast's Peacock revenue increased by nearly 28% due to prior price hikes, and the company improved its profitability metrics. Comcast is implementing strategic changes to enhance its broadband offerings and is expected to raise prices for Peacock in light of new sports content rights. The overall growth in revenue reflects a complex environment as Comcast navigates the transition from traditional cable to streaming services.