Peacock posted its second consecutive profitable quarter, with Comcast reporting $261 million in adjusted EBITDA for the streaming service in the third quarter of 2026. The result follows a $189 million profit in the second quarter, Peacock’s first since its 2020 launch, and marks a sharp turnaround from a $217 million loss in the same period last year.
The streak signals that Peacock, long a drag on Comcast’s earnings, may be settling into a steadier financial footing after years of heavy losses tied to content spending and subscriber acquisition.
The Details Behind Peacock’s Profit
Peacock’s revenue climbed to $1.8 billion in the third quarter, up from $1.4 billion a year earlier, according to Comcast’s earnings release. That works out to a 34% increase, driven by higher subscription fees and stronger advertising, Deadline reported.
Paid subscribers held at 48 million, flat from the prior quarter but up from 41 million a year ago. Comcast said the count held steady even after a price increase took effect late in the summer.
The FIFA World Cup played a significant role across Comcast’s media business, which includes both Telemundo and Peacock. The tournament added $224 million in incremental revenue to the media segment in the third quarter, after contributing $440 million in the second quarter. Lower programming costs at Peacock also helped the bottom line, according to Comcast.
What It Means For Peacock Subscribers
For fans, the flat subscriber count alongside rising revenue suggests Comcast is leaning on higher prices and big live events rather than rapid subscriber growth to drive Peacock toward profitability. The World Cup’s outsized contribution in both quarters shows how much a single marquee sports property can move the needle for a streamer’s bottom line.
NBCUniversal is also working to expand Peacock’s reach through bundling deals with other platforms, including a multiyear agreement with YouTube that will include Peacock Premium with YouTube Premium subscriptions starting in early 2027. That arrangement could give Peacock access to a broader audience without the service having to acquire every subscriber on its own.
Context: Comcast’s Leadership On What Comes Next
Comcast co-CEO Mike Cavanagh cautioned on the company’s analyst call that back-to-back profitable quarters don’t guarantee a smooth run ahead. “The quarters ahead can get lumpy, depending on when rates kick in for different properties,” Cavanagh said, according to The Hollywood Reporter. He added that he expects Peacock’s profitability to keep improving when measured year over year.
The profit news arrives as Comcast works toward its planned spinoff of NBCUniversal and Sky, which the company said is on track for completion by mid-2027. Cavanagh, who will lead NBCUniversal after the separation, said the effort is now deep into execution, including building out the new company’s standalone infrastructure.
“While there is still significant work ahead, we have a clear path to completion and remain focused on creating two companies with the strategic flexibility, financial strength and leadership to compete and grow independently,” Cavanagh said.
What’s Next For Peacock
The next milestone to watch is the NBCUniversal spinoff, targeted for mid-2027, which will move Peacock into a newly independent NBCUniversal alongside NBC, Universal and Sky. Meanwhile, Comcast faces pressure in its broadband and connectivity business. The company lost 144,000 residential broadband customers and 274,000 video customers in the third quarter, according to Reuters, as fiber and fixed wireless rivals keep chipping away at its customer base.
Don't stop here
Every Score. Every Story. One Home.
Breaking sports, entertainment and news from across the Total Apex network, updated all day.
Get the Full Story →
