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Comcast 3Q net income rises on more internet customers

By The News · 25 of October 2018 10:38:25
FILE- In this March 27, 2017, file photo, a Comcast worker performs work in Pittsburgh. Comcast Corp. reports earnings Thursday, Oct. 25, 2018. (AP Photo/Gene J. Puskar, File), No available, FILE- In this March 27, 2017, file photo, a Comcast worker performs work in Pittsburgh. Comcast Corp. reports earnings Thursday, Oct. 25, 2018. (AP Photo/Gene J. Puskar, File)

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 $2.89 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 $22.14 billion from $21.08 billion. Analysts expected $21.85 billion.