Peacock remains profitable as NBCU/Sky split remains ‘on track’

Peacock has maintained its profitability for a second consecutive quarter as parent company Comcast prepares to split the service and NBC Universal from its broadband operations next year.

The streamer posted revenues of $1.8bn and subscribers remained at 48 million, with adjusted EBITDA coming in at $261m.

That was up from a loss of $217m a year ago, when the streamer had only 41m subscribers. Part of the growth was down to advertising around the latter stages of the FIFA World Cup.

Comcast chief exec Mike Cavanagh said on a subsequent earnings call that he would look to bundle the streamer with other competitors to maintain growth, a strategy that Netflix alluded to earlier this week in their results.

NBCU has also ready agreed a deal that will see Peacock becoming available to subscribers of YouTube’s premium tier.

Cavanagh said he is “interested in doing this with others as well”, and added that the company was making “meaningful progress” on the impending separation of Sky and NBCU into a separate business.

The company added that the split “remains on track to create two independent companies with the financial strength and flexibility to pursue their respective growth strategies.”

However, it has a $1bn cost attached, execs noted. Sky is also in the midst of trying to acquire ITV in the UK, a deal that UK culture secretary recently said she was minded to intervene in.

Studio revenue dipped 1% to $2.96bn and EBITDA of $402m, helped by the ongoing success of The Odyssey, which has become Universal’s highest-grossing film ever with receipts of $1.9bn since its launch in July.

Comcast’s theme parks division saw profits drop 17% while its broadband business also struggled with revenue down almost 3%, meaning pro forma revenue hit $29.3bn and EBITDA of $9.1bn, with the figures taking the spin-off of Versant earlier in 2026. The now-standalone company owns cable networks that had previously sat under NBCU.