Streaming of sporting events like World Cup soccer helped carry Peacock to $189 million in adjusted earnings. (Photo by David Ramos)
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Six years after its launch, Peacock posted its first quarterly profit, powered by NBA playoff games, FIFA World Cup coverage and reality television.
The question now for parent company Comcast is whether the streaming service can remain profitable amid an ever-changing sports broadcasting landscape.
Peacock Reaches Profitability
During the second quarter of 2026, Peacock generated $189 million in adjusted earnings before interest, taxes, depreciation and amortization on $1.9 billion in revenue. It added two million paid subscribers, increasing its total to 48 million.
Comcast executives in a July 23 earnings call described the result as a milestone but warned against reading too much into a single quarter because the service’s earnings will continue to rise and fall based on sports schedules and content spending.
“As to Peacock profitability itself, we do expect it to continue to improve on an annual basis, but profitability is going to vary quarter by quarter,” Comcast Co-CEO Mike Cavanagh said during the call.
Cavanagh said the results reflected Peacock’s ability to attract subscribers around major events and retain them with its broader programming.
Sports Drives Subscriber Growth
NBCUniversal launched Peacock in July 2020 as a free, advertising-supported extension of its television and film portfolio. The service eliminated its free tier in 2023 and expanded its sports offerings, carrying the NFL’s first streaming-exclusive playoff game and serving as NBCUniversal’s streaming home for the 2024 Paris Olympics.
Its sports offerings also include the NFL, MLB, NBA, WNBA and Premier League.
Subscriptions, Advertising Fuel Growth
Jason Armstrong, Comcast’s chief financial officer, attributed Peacock’s recent success to its dual-revenue model, which combines subscriptions and advertising across sports, NBC and Bravo programming, films, news and major events.
Peacock revenue increased 54%, including growth of more than 50% in distribution revenue and nearly 70% in advertising revenue, Armstrong said.
Comcast executives said Peacock’s financial performance will continue to vary depending on the timing of those events and the costs associated with them.
Comcast Prepares To Split
Peacock’s profit milestone comes as Comcast prepares to split into two companies—one focused on internet and wireless services and another built around NBCUniversal, Peacock and Sky.
“This structure gives both companies the freedom to pursue the priorities that matter most to their futures,” Comcast Chairman and Co-CEO Brian Roberts said in the earnings call.