Comcast beat Wall Street expectations for its fourth quarter of 2024 as Peacock continued to narrow its losses and "Wicked" helped the studios business defy gravity with an 85% increase in profit to $569 million.

Comcast, led by chairman and CEO Brian Roberts, reported fourth-quarter and full-year results for its entertainment unit and other operations.

NBCU's ad revenue posted a 0.4% hike to $2.65 billion. Madison & Wall media analyst Brian Wieser believes Peacock accounted for 25% of the company's national ad revenue.

Comcast said fourth quarter profit surged as the company saw good results at its mobile business, at the box office and at its Peacock streaming hub. Meanwhile, the Philadelphia cable-and-entertainment giant said it would recognize a $1.