(Associated Press via NewsEdge) 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.
But 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 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.
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