Market Losses Offset Comcast Revenue Gain

Comcast Corp., the No. 3 U.S. cable operator, posted a sharp increase in quarterly revenue, helped by subscriber growth at its cable operations and improvements at its QVC shopping channel, but it posted a net loss from losses in its investment portfolio.

Comcast said revenue rose 16% to $2.71 billion from $2.34 billion, at the high end of the Wall Street estimates, as compiled by Multex.

The company posted a net loss of $209.6 million, or 22 cents a share, including 57 cents of investment losses, compared with a profit of $35.3 million, or 4 cents a share, a year earlier.