ABC’s Net Income Off 38% From Olympic High

American Broadcasting Cos., citing weak advertising demand at its television and publishing operations, reported Thursday that third-quarter profits fell 38% from the year before as revenue tumbled 35%. Results in the 1984 period swelled to record levels because of ABC’s telecast of the Summer Olympic Games in Los Angeles.

ABC, which is merging with Capital Cities Communications, said profits of its television network fell to $58.5 million in the third quarter from $100.3 million a year before. Its radio operations, meantime, achieved record results in the latest period.

Profits of ABC’s publishing division fell to $8.7 million from $9.2 million. Soft advertiser demand and the absence of Olympics-related projects were responsible for the decline, ABC said.

The company said its video enterprises, which includes the ESPN cable-TV network, had its first profitable quarter, showing earnings of $1 million in the period ended Sept. 30, compared to a loss of $3.5 million in the third quarter of 1984. ABC said that ESPN was the principal source of the profit but that its Arts & Entertainment and Lifetime cable networks showed reduced losses.