http://hosted.ap.org/dynamic/stories/U/US_COMCAST_RESULTS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2014-10-23-07-05-44
NEW YORK (AP) -- Comcast Corp.'s third-quarter net income jumped 50 percent in the third quarter, helped by a one-time tax settlement, growth in Internet subscribers and fewer defectors from its cable service.
Comcast is in the midst of a $45 billion takeover of Time Warner Cable, a deal that is under regulatory review. Cable providers have been consolidating as more viewers shift to watching video on mobile tablets, computers and smartphones rather than through traditional cable TV stations. AT&T Inc. is planning to buy satellite service DirecTV for $48.5 billion in a merger also under review. Meanwhile, channels like HBO and CBS have announced standalone streaming services, signaling the industry is undergoing a sea change.
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 a hefty one-time tax settlement, net income totaled 73 cents per share, beating analyst expectations of 71 cents per share, according to FactSet.
Revenue rose 4 percent to $16.79 billion from $16.15 billion last year. Analysts expected $16.8 billion.
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