NEW YORK (AP) — Cable company Comcast says its net income rose 9 percent in the third quarter as more high-speed internet customers offset a decline in video customers.
The company is taking over European pay-TV operator Sky as more cable and telecom companies buy up the companies that make and distribute TV shows and movies to compete in a changing media landscape.
The Philadelphia company’s net income rose 9 percent to .89 billion, or 62 cents per share, from the prior-year period. Excluding one-time items, net income totaled 65 cents per share. That beat analyst expectations of 61 cents per share, according to FactSet.
Revenue rose 5 percent to nearly .14 billion from .08 billion. Analysts expected .85 billion.