Tax settlement boosts Comcast 3rd


FILE - This Feb. 15, 2011 file photo, shows a Comcast logo on a Comcast installation truck in Pittsburgh. Comcast reports quarterly financial results on Thursday, Oct. 23, 2014. (AP Photo/Gene J. Puskar, File)


Associated Press



NEW YORK (AP) - Comcast Corp.'s third-quarter net income jumped 50 percent in the third quarter, helped by a hefty tax settlement and more high-speed Internet customers.


The nation's largest cable provider says its net income rose to $2.59 billion, or 99 cents per share. That compares with net income of $1.73 billion, or 65 cents per share, last year. Excluding one-time tax settlement, net income totaled 73 cents per share, beating analyst expectations of 71 cents per share.


Revenue rose 4 percent to $16.79 billion from $16.15 billion last year. Analysts expected $16.8 billion.


Cable hookup revenue rose 5 percent to $11.04 billion, and NBCUniversal revenue rose 1 percent to $5.92 billion.


Comcast is in the midst of a $45 billion takeover of Time Warner Cable in a deal under regulatory review.


Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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