Comcast: Net Earnings Soar 22%, Digital Growth Up

To no one's surprise, Comcast Corp. executives would not discuss a possible multibillion deal for NBC Universal during in its third-quarter earnings call. But the company did have good news to report.

Comcast, the largest cable operator in the U.S., grew 22% in net earnings to $944 million, from $771 million during the period. Revenues rose to $8.8 billion, from $8.55 billion.

Analysts said the company overperformed on results from its digital video, broadband and telephone businesses.

Digital cable added 463,000 customers in the third quarter, an increase of 7.4%. This paced well ahead of the 279,000 estimates. Comcast added 361,000 high-speed-Internet customers, a 6.4% improvement. This was more than the 256,000 projection.

Finally, Comcast said 375,000 new digital-telephone subscribers signed up. That's a 20% gain over the same quarter a year ago, and far more than the projected 242,000.

The company's programming networks -- including Versus, E, Style, Golf Channel, G4 and AZN Television -- saw revenue rise 10% to $383 million.

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Comcast CEO Brian Roberts would not talk about a possible NBC Universal deal -- which has been rumored to end with Comcast controlling 51% of a new entity -- and General Electric, currently an 80% owner of NBC, owning 49%.

"While we can't comment on rumors, I'd like to reinforce that we only look for opportunities in our core businesses that will potentially accelerate growth, make those businesses more profitable, make them differentiated, and give them the benefits of scale," he said.

Comcast shares had been trending downward since the news about a possible NBCU deal broke weeks ago. Its stock was down just under 2% in midday trading to $13.70.

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