Comcast’s NBCU Revenue Up 4.6% In 3Q

NEW YORK (AP) — Comcast says its profit rose 5 percent in the third quarter as revenue at the nation’s biggest cable television company climbed 51 percent.

The profit increase at Comcast contrasts with sagging earnings reported recently by its smaller rivals Time Warner Cable Inc. and Cablevision Systems Corp.

The Philadelphia-based company reported net income of $908 million, or 33 cents per share, for the July-September period. That’s up from $867 million, or 31 cents per share, a year ago.

Analysts polled by FactSet were expecting 39 cents per share, but Comcast Corp. said it had an unusual loss from its investment income, which made a comparison difficult.

Results at its NBC Universal business, which owns TV channels and movie studios, were mixed, as box office performance lagged behind last year’s.

Revenue rose to $14.3 billion, which is above analysts’ expectation of $14.25 billion.

Brian L. Roberts, chairman-CEO of Comcast, said: “I am pleased to report strong performance across key financial, operational and product areas. Cable had an outstanding quarter, led by continuing strength in high-speed Internet and business services. In addition, this marks the fourth consecutive quarter of improving customer metrics, including increased year-over-year high-speed Internet customer additions. We are driving product leadership and innovation and making significant progress in delivering improved service experiences for our customers. NBCUniversal’s results underscore the strength of our core cable networks business, as well as terrific momentum at the theme parks. Our goal for NBCUniversal is to improve and build brands, and to enhance long-term value. Overall, this quarter continued our momentum toward a successful integration.”

Read the company’s release here.