Comcast 3Q profit, sales top Street on upbeat subs

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

Source: http://hosted2.ap.org/APDEFAULT/495d344a0d10421e9baa8ee77029cfbd/Article_2012-10-26-Earns-Comcast/id-a16c48fc5e4a4d9db51592d72c76638d

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