Assets boosts US cable giant earnings

Comcast, the US's biggest cable TV company, said its profit soared in the third quarter, bolstered by its acquisition of a former rival's cable assets, an Associated Press report said.

The Associated Press report however said excluding the gain, related to the Adelphia Communications purchase and asset swap that closed this summer, Comcast's profit more than doubled from a year ago while revenue climbed 22% from a year ago.

Philadelphia-based Comcast has been pulling away from its satellite television competitors with its vaunted 'triple play' package of cable TV, high-speed Internet and digital voice plans priced at $99  for 12 months, the report said.

The cable operator's next frontier will be business customers, which it's ramping up to reach with its broadband and phone service plans.

Comcast reported net income of $1.22 billion  in the three months ended Sept. 30 versus $222 million a year ago.

Without the after-tax gains of $669 million from Adelphia, profits came to $548 million.
Revenue rose to $6.43 billion from $5.28 billion a year ago, the report further said.

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