Peacock, the streaming service of Comcast’s entertainment unit NBCUniversal, posted a first-quarter loss of $432 million, compared with a loss of $215 million in the year-ago period and a fourth-quarter loss of $552 million.

Overall revenue at the streaming platform came to $2.0 billion, up from $1.2 billion in the year-ago period and $1.6 billion in the fourth quarter of 2025, driven by increased paid subscribers and higher average rates. Peacock ended March 2026 with 46 million paying subscribers after adding NBA games and with the help of the Winter Olympics. That compares to 44 million subscribers in the fourth quarter and a year-ago base of 41 million customers.

Comcast, which reported its latest financial results on Thursday for the first time without its now-separated Versant business, reported overall revenue at $31.5 billion, up 5.3 percent from $29.9 billion in the year-ago period and beating an analyst forecast for $30.4 billion. That included an extra $2.2 billion in revenue from NBC offering the Winter Olympics and the NFL’s Super Bowl game in February.

The media conglomerate saw net income slide 35.6 percent to $2.2 billion, against a year-earlier $3.4 billion, while it posted adjusted earnings per share at 79 cents, compared to a year-ago $1.09. Analysts had forecast per-share earnings of 73 cents.

The first quarter “showcased the strength of our media portfolio, leveraging the unmatched reach of the Milan Cortina Winter Olympics and the Super Bowl to drive record advertising and strong Peacock growth, while also powering our ability to market our connectivity products at scale,” Brian Roberts, chairman and co-CEO of Comcast, along with Mike Cavanagh, said in a statement on Thursday.

Content and experiences revenue rose 40 percent to $11.9 billion after the Winter Olympics and the NFL’s Super Bowl revenue contributions, and media revenue, which includes NBCUniversal, was up 60 percent to $7.3 billion on higher advertising revenue.

The Universal film studios revenue was up 21 percent at $3.4 billion on higher content licensing business, while the theme parks revenue — a key metric for investors — came to $2.3 billion in the first quarter, up 24 percent after the opening of Epic Universe in May 2025.

Comcast’s connectivity and platforms revenue fell 2.5 percent to $19.9 billion. The core cable and telecom distribution business has faced losses in pay TV and broadband subscribers as Comcast grapples with cord-cutting and competition from fiber and fixed wireless providers.

The division in the first quarter lost 322,000 video customers, compared to 245,000 video customers shed during the fourth quarter, and Comcast lost another 65,000 domestic broadband subscribers. That has left investors looking to Comcast and elsewhere across the industry for a bottom when it comes to cable and broadband sub losses.

Comcast recently announced it had completed the separation of most of its cable networks into a separate entity called Versant Media Group, led by Mark Lazarus as CEO.