Comcast Sees Economy Stabilizing

Comcast reported a 22% increase in third-quarter earnings Wednesday after stepping up promotions on its bundled video, phone and Internet plans. The nation's largest cable TV operator also said it sees signs the economy is stabilizing. But investors are more anxious to find out how the purchase of a 51% stake in NBC Universal would burden Comcast's finances. A deal between Comcast and General Electric Co., which owns 80% of NBC Universal, could be announced soon. Comcast is expected to pony up cash and its cable networks and help shoulder NBC Universal's debt in a $30 billion deal that would transform Comcast into one of the world's most powerful media companies. In the third quarter, Comcast earned $944 million, or 33 cents per share, compared with $771 million, or 26 cents, in the same quarter a year earlier. Revenue was up 3% to $8.8 billion.