EARNINGS : Westinghouse Profits Climb

Westinghouse Electric Corp. today reported that earnings in the third quarter rose 8.5%, boosted by higher profits in broadcasting and other businesses.

The Pittsburgh-based conglomerate said net income in the three months ended Sept. 30 rose to $255 million, or 87 cents a share, from $235 million, or 80 cents a share, in the year-ago period. Revenues grew about 1.6% to $3.18 billion from $3.13 billion. But adjusted for the divestiture of the transmission and other businesses last year, revenues rose about 11%.

Sales and profits in broadcasting rose substantially primarily because of the acquisition late last year of eight radio stations in New York, Philadelphia, Los Angeles, Washington, Houston, Minneapolis and other markets. The purchase, for an undisclosed price from investment group Metropolitan/Legacy, brought the number of radio stations Westinghouse operates to 20.