Q2 Earnings: Comcast, Facebook, YouTube, SiriusXM

By Christine Zosche 

The Covid-19 pandemic, which evaporated first quarter TV ad revenue, continued to depress the bottom lines for broadcast media giants in the second quarter. For Comcast, that has translated to a Q2 loss of more than 25 percent of NBCUniversal’s broadcast and cable ad revenues. (Adweek)

However, Peacock, the latest major entrant to the streaming video universe, has added more than 10 million signups since its launch, Comcast revealed Thursday as part of its second-quarter earnings. (NBC News)

Also on Thursday, Facebook said revenue was up 11 percent to $18.69 billion and it earned $1.80 a share, up 98 percent year-on-year, as it unveiled its latest quarterly financials after the market close. The company reported 1.79 billion daily active users worldwide at the end the second quarter, up from 1.73 billion at the end of the first quarter. (THR)

YouTube’s revenue growth slowed dramatically during Q2, but the video giant’s performance still stood out as a bright spot after Alphabet, the parent company of YouTube and Google, reported its first quarter of declining revenue growth on Thursday. (The Wrap)

SiriusXM added around 264,000 new self-pay subscribers in the second quarter of 2020, the company announced in its earnings results Thursday, bringing it to nearly 34.3 million total subscribers in the first full quarter to be affected by the coronavirus pandemic. (Variety)

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