Strong results from NBCUniversal’s Studios business and growth in Peacock helped Comcast beat Wall Street expectations for its first quarter of 2023. The cable and media conglomerate reported net income of $3.8 billion Thursday, or earnings per share of 91 cents, compared with $3.55 billion, or 78 cents per share a year earlier. On an adjusted basis, earnings per share came in at 92 cents.
Revenue fell 4% year over year to $29.7 billion, while adjusted earnings before interest, taxes, depreciation and amortization grew 3% year over year to $9.42 billion.
Analysts expected the NBCUniversal parent to report earnings of 82 cents per share on revenue of $29.4