NBCUniversal’s streaming platform Peacock may finally turn a profit next quarter, Comcast co-CEO Mike Kavanagh indicated Thursday. The June quarter will mark Peacock’s first-ever profit. The streaming device was soft-launched in spring 2020 and barely launched in summer 2020. Due to the COVID-19 pandemic, Peacock’s rollout, timed to the Tokyo Summer Olympics, was halted. The 2020 Summer Games were finally held the following year, although the spectacle was still well below the typical level of the event.
Comcast CFO Jason Armstrong told analysts on an earnings call that the streamer has seen a “meaningful inflection point with Peacock expected to approach profitability” in the near term.
“I think the potential for continued and durable profitability for Peacock is what we have our eye on,” Kavanagh said during the question-and-answer portion of Comcast’s first-quarter conference call with media analysts.
Peacock lost $432 million in the first quarter of 2026, which runs from January to March. The platform reached 46 million subscribers by March 31, 2026. Turning a profit from the current quarter will be a big swing.
There is reason for optimism. Peacock’s first quarter was marred by the recognition of half of its NBA season costs being rolled into a three-month period (because half of Peacock’s games were scheduled from January 1 to March 31). The second quarter will carry roughly half the Hoops cost of the first quarter — roughly 25 percent of Peacock’s NBA games came in the fourth quarter of 2025 and a similar amount in the second quarter of 2026.
Total first-quarter revenue on the streaming platform was $2.0 billion, up from $1.2 billion in the same period last year and $1.6 billion in Q4 2025, driven by increased paid subscribers and higher average prices. Peacock saw a February that NBCUniversal called “Legendary February,” as the Winter Olympics, Super Bowl LX and the NBA’s All-Star Weekend were combined into the span of just a few weeks. At the end of 2025, Peacock had 44 million subscribers.
The first quarter of this year saw NBCU part ways with Versant. At its simplest, NBCUniversal (under Comcast) holds NBC, Bravo, Peacock and the studios. Versant acquired the remaining cable and digital assets.
