Despite a worsening economy and a drop in basic subscribers, the nation’s biggest cable operator, Comcast Corp., said Wednesday that its third-quarter earnings rose 38%, TVWeek says. Net income was $771 million, or 26 cents a share, up from $560 million, or 18 cents a share a year ago, exceeding Wall Street’s expectations. “We delivered solid results in the third quarter, demonstrating the underlying strength of our subscription businesses and our ability to operate well in a challenging economic and competitive environment. Importantly, our financial position has never been stronger,” said Comcast CEO Brian Roberts in a statement. (See Comcast’s earnings announcement here.)
— Jon Lafayette