Comcast 3Q profit, sales top Street on upbeat subs

[October 27, 2012]  PHILADELPHIA (AP) -- Cable giant Comcast Corp., the nation's largest provider of TV and high-speed Internet services, more than doubled its net income in the third quarter, helped by fewer cancelations of video service than expected and by breaking even on the expensive-to-produce London Olympics.

Net income in the three months through September rose to $2.11 billion, or 78 cents per share, from $908 million, or 33 cents per share, a year earlier.

Excluding earnings from businesses in which it had a minority stake, adjusted earnings came to 46 cents per share, matching the expectation of analysts polled by FactSet.

Revenue grew 15 percent to $16.54 billion, blowing past the $16.07 billion expected by analysts.

[Associated Press]

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