Comcast Corp shares climbed on Thursday after its Peacock streaming service reported its first-ever quarterly profit, marking a significant operational milestone for the unit.
The profitability was driven by a surge in subscribers attracted by the soccer World Cup and the popular reality series "Love Island USA," according to Channel NewsAsia.
Comcast shares had previously rallied sharply, jumping 17% to $27.
The positive news from the streaming division comes as investors digest the company's broader strategic overhaul.
Comcast shares had previously rallied sharply, jumping 17% to $27.10 on Monday, after the company unveiled plans to spin off its NBCUniversal and Sky divisions into a standalone media entity.
The Peacock profit signal suggests the streaming arm can stand on its own merits, potentially strengthening the valuation case for the separated media business.
This development extends the positive momentum for Comcast, which has been working to unlock value through its corporate restructuring.