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{"id":30369,"date":"2023-04-27T22:07:49","date_gmt":"2023-04-27T22:07:49","guid":{"rendered":"https:\/\/scienceandnerds.com\/2023\/04\/27\/nbcuniversal-reports-higher-peacock-losses-as-it-shows-ceo-the-door\/"},"modified":"2023-04-27T22:07:50","modified_gmt":"2023-04-27T22:07:50","slug":"nbcuniversal-reports-higher-peacock-losses-as-it-shows-ceo-the-door","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2023\/04\/27\/nbcuniversal-reports-higher-peacock-losses-as-it-shows-ceo-the-door\/","title":{"rendered":"NBCUniversal reports higher Peacock losses as it shows CEO the door"},"content":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/04\/27\/nbc-universal-peacock-ceo-q1-2023\/<\/a><\/br>
\nNBCUniversal reports higher Peacock losses as it shows CEO the door<\/br>
\n2023-04-27 22:07:49<\/br><\/p>\n

\n

Peacock losses continue to widen this quarter, NBCUniversal parent company Comcast reported<\/a> Thursday, just days after the company announced<\/a> that Jeff Shell\u2019s time as NBCU CEO was up. Peacock had $704 million in losses in Q1 2023, a significant jump from $456 million in the same year-ago period.<\/p>\n

In the fourth quarter of 2022<\/a>, Peacock reported an adjusted EBITDA loss of $978 million. The company previously warned shareholders that it expects losses to peak at around $3 billion this year.<\/p>\n

However, Peacock also experienced subscriber growth, adding two million paying subscribers to bring the total to 22 million, up from 20 million in the previous quarter \u2014 a significant increase compared to the prior year when it had 13 million<\/a> paying subs.<\/p>\n

Peacock saw revenue jump 45% to $685 million.<\/p>\n

Comcast announced Monday that Shell is leaving the company, effective immediately, following an investigation into a complaint of an inappropriate relationship within the company. In the interim, Comcast President Mike Cavanagh will take on Shell\u2019s duties.<\/p>\n

\u201cToday is my last day as CEO of NBCUniversal. I had an inappropriate relationship with a woman in the company, which I deeply regret. I\u2019m truly sorry I let my Comcast and NBCUniversal colleagues down, they are the most talented people in the business and the opportunity to work with them the last 19 years has been a privilege,\u201d Shell said in a statement.<\/p>\n

CEO of Comcast Brian L. Roberts addressed the departure during Thursday\u2019s earnings call.<\/p>\n

\u201cLet me just acknowledge the news that you all saw earlier this week. Obviously, a tough moment. But we are so fortunate to have a fabulous and tenured leadership team at NBCUniversal,\u201d Roberts said. \u201cWe\u2019re also lucky to have Mike Cavanagh step in at the helm at NBCUniversal while also remaining president.\u201d<\/p>\n

The subscriber gain is a small win for the streamer as its larger rival Disney+<\/a> dipped in subscribers for the first time, losing 2.4 million global subscribers to bring the total to 161.8 million.<\/p>\n

Netflix<\/a> missed analysts\u2019 expectations in its first-quarter earnings, only reporting an addition of 1.75 million subscribers<\/a> versus the estimated 2.3 million.<\/p>\n

\u201cWe delivered strong first quarter results as our team executed exceptionally well,\u201d Roberts wrote in today\u2019s letter to shareholders. \u201cWe grew Adjusted EBITDA and Adjusted EPS and generated a significant amount of free cash flow. We accomplished all of this while continuing to invest in future growth initiatives. Also, importantly, we had solid revenue growth in our high-margin connectivity businesses while increasing our Peacock subscribers more than 60% year-over-year.\u201d<\/p>\n<\/p><\/div>\n

<\/br><\/br><\/br><\/p>\n

Science, Tech, Technology<\/br>
\n<\/br>
\nSource:https:\/\/techcrunch.com\/2023\/04\/27\/nbc-universal-peacock-ceo-q1-2023\/<\/a><\/br><\/br><\/p>\n","protected":false},"excerpt":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/04\/27\/nbc-universal-peacock-ceo-q1-2023\/ NBCUniversal reports higher Peacock losses as it shows CEO the door 2023-04-27 22:07:49 Peacock losses continue to widen this quarter, NBCUniversal parent company Comcast reported Thursday, just days after the company announced that Jeff Shell\u2019s time as NBCU CEO was up. Peacock had $704 million in losses in Q1 2023, a significant jump from […]<\/p>\n","protected":false},"author":1,"featured_media":30370,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26,17,8],"tags":[],"class_list":["post-30369","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-science","category-tech","category-technology"],"yoast_head":"\nNBCUniversal reports higher Peacock losses as it shows CEO the door - Science and Nerds<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scienceandnerds.com\/2023\/04\/27\/nbcuniversal-reports-higher-peacock-losses-as-it-shows-ceo-the-door\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NBCUniversal reports higher Peacock losses as it shows CEO the door - Science and Nerds\" \/>\n<meta property=\"og:description\" content=\"Source:https:\/\/techcrunch.com\/2023\/04\/27\/nbc-universal-peacock-ceo-q1-2023\/ NBCUniversal reports higher Peacock losses as it shows CEO the door 2023-04-27 22:07:49 Peacock losses continue to widen this quarter, NBCUniversal parent company Comcast reported Thursday, just days after the company announced that Jeff Shell\u2019s time as NBCU CEO was up. 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