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Business Briefing / Earnings

Comcast sales, profit increase

November 05, 2009|Times Wire Reports

Comcast Corp., the largest U.S. cable TV company, posted a 23% jump in third-quarter profit, bolstered by subscriber gains, higher monthly bills and lower capital spending.

Net income rose to $944 million, or 33 cents a share, Comcast said. Sales increased 3% to $8.8 billion. Analysts on average projected profit of 25 cents on sales of $8.84 billion, according to a Bloomberg survey.

Comcast netted 1.07 million new cable, Internet and phone customers. It reduced capital expenditures 6%, while the average monthly cable bill rose 5.6% to $116.91.

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