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Good quarter for Comcast

Comcast’s third-quarter revenue and cash flow both climbed more than 50%, leading to a 32% cut in losses.

Results at the nation’s fourth-largest MSO were slowed a bit by new rate regulation.

That has led Comcast to finding other revenue generators, such as cellular communications.

For the quarter, Comcast lost $ 35.7 million, or 25 cents a share, compared to a loss of $ 52.3 million, or 39 cents a share, in the same period a year ago. Revenue was $ 335.4 million, up from $ 221.2 million and operating cash flow was $ 154.3 million, up from $ 98.5 million.

For the first nine months, Comcast lost $ 819.4 million, or $ 5.78 a share, compared to a loss of $ 129.3 million, or 96 cents a share, in the like period a year ago. The recent nine-month figures are skewed by a $ 742,000 accounting change charged against earnings.

Revenue for the first nine months was $ 1 billion, up from $ 639.1 million and operating cash flow was $ 460.2 million, up from $ 282.9 million.

Mary L. Kukowski, a First Boston analyst, said the results came in as expected. For the fourth quarter, she expects the company’s cash flow to drop off because of the new cable reregulation law.

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