Comcast’s streaming service Peacock reported its first quarterly profit in the second quarter of 2026, driven by increased subscriber growth tied to major sports events and popular original programming. The service posted a $189 million pretax profit, marking a significant milestone since its 2020 launch.
Peacock added 2 million paid subscribers during the April-June period, raising its total to 48 million, a figure that exceeded analyst expectations. This subscriber growth was fueled in part by live sports events, including the FIFA World Cup and NBA playoffs, as well as the reality series “Love Island USA.” Revenue for the service increased 54% to $1.9 billion, reflecting strong consumer demand.
Brian Roberts, chairman and co-CEO of Comcast, highlighted Peacock’s rapid growth, noting that the service has added 2 million paid subscribers in each of the last two quarters. Co-CEO Mike Cavanagh emphasized the strategic value of combining Peacock with NBC, Telemundo, Bravo, and other media assets to enhance engagement and profitability.
The reported profit comes amid Comcast’s plan to spin off its NBCUniversal entertainment and news media businesses into an independent company. This new entity will include Peacock, broadcast networks NBC and Telemundo, Bravo, Universal film and TV studios, British broadcaster Sky, and theme parks. Comcast intends to complete the separation within approximately one year, aiming to position NBCUniversal more competitively in the evolving streaming landscape.
Industry analysts noted that Peacock’s achievement underscores the continuing importance of live sports and premium content in attracting and retaining subscribers. Michael J. Wolf, CEO of Activate Consulting, observed that the spin-off will allow NBCUniversal to shed legacy cable constraints, potentially boosting its streaming competitiveness. Brandon Katz, director of insights and content strategy at Greenlight Analytics, characterized the profit as a meaningful but initial step in Peacock’s longer-term growth, noting that its U.S.-focused reach remains smaller than competitors like Netflix, which serves about 80 million households in North America.
Alongside Peacock’s strong performance, Comcast’s overall quarterly results showed some challenges. The company’s revenue slipped 1% to $29.9 billion compared with the previous year, as domestic broadband subscriber losses narrowed but persisted. Net income declined 68% to $3.5 billion, reflecting the absence of a large one-time gain recorded in the prior year from the sale of Hulu shares. However, content and experiences revenue, driven by advertising and theatrical releases such as “The Super Mario Galaxy Movie” and “Obsession,” increased nearly 23% to $10.7 billion.
Following the earnings announcement, Comcast’s stock closed down about 7% at $21.92 per share.