Comcast Corporation (NASDAQ:CMCSA) stock fell 1.10% (As on January 27, 11:47:16 AM UTC-4, Source: Google Finance) after the company reported fourth-quarter results that bested analysts’ expectations as the cable and media company saw revenue and subscriber gains for its Peacock streaming service, even as losses in the unit widened. Cable communications revenue was 1.4% higher in the just-ended quarter to come in at $16.64 billion, with broadband, wireless and business services gains countering decreases in video and voice revenue. Customer relationships dropped by 71,000 to 34.3 million in the final period of 2022, although wireless lines grew by 365,000, which Comcast said was the most in a quarter since the service’s 2017 launch. Revenue in the NBCUniversal segment was up 5.9% to $9.89 billion, with studios posting a 13% gain on growth in content licensing and gains in releases for movies. Theme parks increased 12% as attendance and spending picked up. In the NBCUniversal media segment, streaming service Peacock posted revenue of $660 million, up from $335 million a year ago. Paying subscribers stood at about 20 million by the end of the year, “more than double where the company had started.

Moreover, Cable Communications Wireless Customer Line Net Additions Were 365,000, the Best Quarterly Result Since Launch in 2017. NBCUniversal Adjusted EBITDA Reflected Higher Peacock Losses and $182 Million in Severance Expense in Headquarters and Other. Peacock Paid Subscriber Net Additions in the U.S. Were 5 Million, Fueled by Live Sports, the Recent Films and Originals; the Best Quarterly Result Since Launch in 2020. Theme Parks Delivered Its Highest Adjusted EBITDA on Record for a Fourth Quarter, Driven by Higher Attendance and Increases in Guest Spending at Our Parks in the U.S. and Japan. Sky Total Customer Relationship Net Additions Were 129,000, Reflecting Net Additions in All Markets.

CMCSA in the fourth quarter of FY 22 has reported the adjusted earnings per share of 82 cents, beating the analysts’ estimates for the adjusted earnings per share of 78 cents. The company had reported the adjusted revenue growth of 0.7 percent to $30.55 billion in the fourth quarter of FY 22, beating the analysts’ estimates for revenue of $30.36 billion. Consolidated Adjusted EBITDA Decreased 4.9% to $8.0 Billion, Including $541 Million in Higher Severance Expense; Excluding the Higher Severance, Adjusted EBITDA Increased 1.5%. Capital Expenditures increased 17.7% to $3.6 billion in the fourth quarter of 2022. Cable Communications’ capital expenditures increased 9.7% to $2.4 billion. NBCUniversal’s capital expenditures increased 82.6% to $916 million, reflecting increased investment in constructing the Epic Universe theme park in Orlando, which is scheduled to open in 2025. Sky’s capital expenditures decreased 43.9% to $186 million.