Is Peacock soon to turn a profit? Maybe, sort of, Comcast execs said Thursday. The streamer is at “a meaningful inflection point” and expected to “approach profitability” in the current second quarter, according CFO Jason Armstrong on a post-earnings conference call with analysts.

It has to do with the season of new NBA deal as the NBCUniversal parent straight lines the amortization of the rights. The first quarter was the peak volume, Arnstrong said. with about 50% of the games played and the corresponding costs flowing through, “so as a result this quarter represents our peak EBITDA dilution from NBA costs.” This dynamic flowed through to Peacock as well, where EBITDA losses were $432 million. “Importantly we expect the set up to improve from here, with second quarter reflecting a meaningful inflection point, with Peacock expected to approach profitability.”

More to come

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