Peacock, NBCUniversal's streaming service, posted its first ever profitable quarter, with parent company Comcast reporting the milestone alongside broader Q2 earnings ahead of its planned split into two separate companies. The result marks a significant turnaround for a service that has bled money since its 2020 launch, and comes at a pivotal moment as Comcast prepares to separate its cable and connectivity arm, to be led by Michael Angelakis, from its entertainment and content business, to be headed by Mike Cavanagh.

Peacock delivered EBITDA of $189 million and grew subscribers to 48 million, boosted by the NBA playoffs, the FIFA World Cup and Love Island. Comcast's content and experiences division brought in revenue of $10.7 billion, up 22.9%, while media revenue rose 25% to $5.7 billion and studio revenue jumped 25% to $3 billion on the back of Super Mario Galaxy Movie and Obsession. However, the theme parks business showed signs of strain, with adjusted EBITDA down 5.1% to $609 million despite a 2.7% rise in revenue, and Comcast overall reported revenue of $29.9 billion, down 1.2%, amid continued softness in its connectivity business.