Comcast 3rd-quarter net income rises helped by tax settlement, more Internet subscribers

Industries Associated Press

Comcast Corp.'s third-quarter net income jumped 50 percent in the third quarter, helped by a hefty tax settlement and more high-speed Internet customers.

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The nation's largest cable provider says its net income rose to $2.59 billion, or 99 cents per share. That compares with net income of $1.73 billion, or 65 cents per share, last year. Excluding one-time tax settlement, net income totaled 73 cents per share, beating analyst expectations of 71 cents per share.

Revenue rose 4 percent to $16.79 billion from $16.15 billion last year. Analysts expected $16.8 billion.

Cable hookup revenue rose 5 percent to $11.04 billion, and NBCUniversal revenue rose 1 percent to $5.92 billion.

Comcast is in the midst of a $45 billion takeover of Time Warner Cable in a deal under regulatory review.