US media giant Comcast announced its third-quarter earnings, with adjusted earnings per share (EPS) of $1.07, exceeding market expectations. The company's media division revenue increased by 13% year-over-year to $5.4 billion, offsetting weakness in its Connectivity & Platforms business. Peacock streaming service achieved quarterly profitability for the second time since its launch in 2020, with adjusted EBITDA of $261 million and revenue of $1.8 billion, driven by strong viewership during the FIFA World Cup.

However, Comcast's Connectivity & Platforms business revenue decreased by 2.7% year-over-year, with a net loss of 144,000 domestic broadband residential customers and 274,000 video customers. The mobile business added 368,000 new customers. The company's net income was $3.45 billion, or $0.97 per share, up from $3.33 billion and $0.90 per share in the same period last year.

Comcast is moving forward with its plan to spin off its media businesses, including NBCUniversal and European media business Sky, which is expected to create two independent publicly traded companies.