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Comcast 3Q Profit Tumbles, Shares Slide

By Deborah Yao -- Associated Press, 10/25/2007

Comcast Corp., the nation's biggest cable TV systems operator, said Thursday that its third-quarter profit fell 54 percent and new customer additions slowed amid increasing competition from phone and satellite TV companies.

The earnings report sent Comcast shares down over 10 percent in Thursday.

Comcast earned $560 million, or 18 cents per share, in the three months ended Sept. 30 compared with $1.22 billion, or 38 cents, in the same quarter a year ago.

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