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The numbers
-6.8% — U.S. advertising drop during the quarter.
-12.5% — First quarter loss for net income attributable to Comcast.
16% — Revenue increase at Peacock.
41 million — Total Peacock subscribers, up from 36 million in the last fiscal year.
The watercooler talk
In its first quarter earnings call on Thursday, Comcast addressed economic uncertainty, which has largely been in the news due to tariffs enacted by the Trump administration. In the quarter, the company’s total ad revenue from media was down around 7%, which the company said was due to volume and timing of sports content, “along with tough political comparisons.” Excluding those factors, the company said advertising was relatively flat.
Though Comcast said it hadn’t seen an impact from the current macroeconomic uncertainty, the company acknowledged that advertising is the most vulnerable area. However, CFO Jason Armstrong said the company was “well positioned” for the upfront and the rest of the year thanks to the NBA coming back to NBC and launching in the fourth quarter; a healthy subscriber community on Peacock, which narrowed losses, increased revenue by 16%, and grew subscribers to 41 million; and a strong content offering ahead.
NBCUniversal’s upcoming tentpoles include Super Bowl LX, the FIFA World Cup, BravoCon, and the 2026 Winter Olympics.
The key quote
“We broadcast the Super Bowl, the Winter Olympics right at the same time, and the World Cup, which puts us in a very enviable position,” Comcast chairman and CEO Brian Roberts said. “I really like our strategy, our balance sheet strength, regardless of global uncertainty. I feel we have a fantastic and unique company, and I’m quite optimistic.”
