PHILADELPHIA: America's largest cable operator Comcast enjoyed a bonanza third quarter, notching major gains both in audience numbers and dollars - boosted by its recent purchase of assets from bankrupt Adelphia Communications.
Net income in Q3 hit orbital velocity at $1.22 billion (€958.7m; £643.2m), up from $222m a year earlier. Even excluding the $669m gain related to the Adelphia purchase and asset swap, Comcast's profit would have more than doubled from a year earlier. Gross revenue rose 22% to $6.43 billion from $5.28bn.
Moreover, Comcast added 558,000 new digital cable subscribers during the quarter and gained 10,000 basic video subscribers - compared with a loss of 39,000 basic users a year ago. Video revenue increased 9% to $4.2bn.
Data sourced from Wall Street Journal Online; additional content by WARC staff