Comcast reported first quarter results that outpaced Wall Street expectations, with Peacock reaching 34 million subscribers but seeing higher programming costs erode profits in the Media unit. Total revenue inched up 1% to $30.1 billion, with adjusted earnings per share coming in at $1.04, up from 92 cents in the year-ago period.

Comcast's Peacock gained three million paid subscribers in the March quarter, aided by its airing of an NFL Wild Card playoff game, the company said in its earnings re

Peacock is seemingly having some financial issues after losing millions.

"Our content offering provides such a great value proposition that we should have some real pricing power over time," says Comcast's president Michael Cavanagh.

But it gained 3 million subscribers, thanks in large part to the first-ever streaming-exclusive NFL playoff game.

Comcast beat earnings expectations on Thursday with its Q1 2024 report, but Wall Street was unimpressed as shares tumbled 6% after the market opened as the company continues to bleed pay TV and broadband subscribers.