Comcast's second-quarter results were lifted by World Cup coverage on its Telemundo network and by its Peacock streaming service, which turned a profit for the first time since launching in 2020. Despite these gains, the media and broadband giant reported a decline in overall profit compared with the same period last year, largely because the prior-year figures had been boosted by a one-off gain from selling its stake in Hulu to Disney. The company continues to face structural pressure in its core cable and broadband business, even as its content and streaming arms perform strongly.

Comcast posted net income of $3.5 billion (99 cents per share), down from $11.1 billion ($2.98 per share) a year earlier, when it booked a $9.4 billion gain from the Hulu sale; adjusted earnings came to $1.04 per share on revenue of $29.9 billion, down 1.2% year-on-year. Peacock reached 48 million paid subscribers, up two million in the quarter, while World Cup telecasts added an extra $440 million in revenue, helping NBCU revenue climb 22.9% to $10.7 billion and US advertising rise 55% (23.5% excluding World Cup effects). By contrast, cable and broadband revenue fell 3.2%, with the company losing 230,000 subscribers to leave it with 47.7 million, though wireless subscriptions grew.