Comcast closed 2024 with a strong quarter, handily beating Wall Street estimates. Revenue of $31.9 billion topped the Street’s expectations for $31.6 billion, rising 2% over the year-ago period, while adjusted earnings per share of 96 cents were a dime better than the consensus forecast.

Comcast beat Wall Street expectations for its fourth quarter of 2024 as Peacock continued to narrow its losses and “Wicked” helped the studios business defy gravity with an 85% increase in profit.

Comcast said fourth quarter profit surged as the company saw good results at its mobile business, at the box office and at its Peacock streaming hub. Meanwhile, the Philadelphia cable-and-entertainment giant said it would recognize a $1.

Comcast shares dropped 12% Thursday morning after the company reported a loss of nearly 140,000 residential broadband customers in the fourth quarter and a stagnating subscriber base for its Peacock streaming service.

Wall Street will be paying attention to Comcast’s broadband, streaming and theme park businesses, as well as progress of the spinout of its cable TV networks.

Comcast shares dropped 12% Thursday morning after the company reported a loss of nearly 140,000 residential broadband customers in the fourth quarter and a stagnating subscriber base for its Peacock streaming service.