Comcast topped Wall Street's fourth-quarter estimates on Thursday as revenue from the company's broadband business gave it a boost despite losing customers.

Comcast executives touted upcoming split to Wall Street as cable networks prepare to separate from the rest of NBCUniversal.

But shares of the media conglomerate fell 4% in pre-market trading on Thursday after it shed 139,000 domestic broadband customers. Comcast Cable  president and CEO Dave Watson previously warned in December that the company would lose just over 100,

Comcast stock fell double digits on Thursday after the company reported a bigger-than-expected drop in broadband customers and failed to add more subscribers to its Peacock streaming service.

Revenue rose 2% to $31.92 billion, generated by increases in its U.S. wireless operations, the success of “Wicked” and “The Wild Robot” at the box office and subscriptions at Peacock. Revenue from the company’s cable and connectivity business was basically flat.

Comcast, led by chairman and CEO Brian Roberts, reported fourth-quarter and full-year results for its entertainment unit and other operations.

Peacock lost $372 million over the final three months of 2024, when it added…zero subscribers. The good news is it didn’t lose members either: Peacock’s 36 million subscribers at the end of the year stayed stagnant with the prior quarter’s results. The platform’s Q4 revenue was $1.3 billion.

Comcast's spinoff plans for its NBCUniversal cable TV networks include another channel that occasionally carries golf broadcasts, USA. Others to be separated are MSNBC, CNBC, Oxygen, E! and Syfy.

Comcast leaders talked up a 'broadcast-plus-streaming' strategy for NBCUniversal after the cable spinoff, as outlined on Thursday's Q4 earnings call.

Comcast closed 2024 with a strong quarter, handily beating Wall Street estimates, as 'Wicked' boosted NBCUniversal studio results.

Comcast reported 4Q revenue of $31.92B, beating estimates of $31.64B. Adjusted EPS of $0.96 also beat estimates of $0.86. Media segment revenue grew 3.5%, Peacock's paid subscribers increased 29%, and Comcast generated $3.

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