socialmedian: Comcast Earnings Up 22% In 3Q

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Comcast Earnings Up 22% In 3Q

Source: The Huffington Post | Full News Feed

Nov 04, 2009

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PHILADELPHIA — Comcast Corp. reported a 22 percent increase in third-quarter earnings Wednesday after stepping up promotions on its bundled video, phone and Internet plans.

The nation's largest cable TV operator also said it sees signs the economy is stabilizing.

But investors are more anxious to find out how the purchase of a 51 percent stake in NBC Universal would burden Comcast's finances. A deal between Comcast and General Electric Co., which owns 80 percent of NBC Universal, could be announced soon. Comcast is expected to pony up cash and its cable networks and help shoulder NBC Universal's debt in a $30 billion deal that would transform Comcast into one of the world's most powerful media companies.

In the third quarter, Comcast earned $944 million, or 33 cents per share, compared with $771 million, or 26 cents, in the same quarter a year earlier.

Revenue was up 3 percent to $8.8 billion, slightly shy of the $8.85 billion analysts were forecasting, according to Thomson Reuters.

Free cash flow, an important measure of liquidity for the typically debt-l

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