I found 14 US Cable, TV & Radio Corps with Pretax Income or Loss of at least $100 mil each in the most recent quarter.
These 14 US Cable, TV & Radio Corps generated Total Pretax Income growth of a very nice 17% in the most recent 3Q 2011, but a substantial deceleration from the 2Q 2011 earnings growth of a much more robust 50%.
A main driver of this earnings growth deceleration was Comcast, which had spectacular earnings growth in the 2Q 2011 of 62%.
Here's how the US Cable, TV & Radio Sector total earnings growth of 17% in the 3Q 2011 stacks up with that of US Big Oil and US Big Financial.
3Q 2011 Pretax Earnings Growth over 3Q 2010:
.....17 US Big Cable, TV & Radio Corps...................17%
......4 US Largest Credit Card Corps.......................23%
......7 US Largest Financial Corps..........................25%
.....21 US Next Largest National/Regional Banks...38%
......6 US Largest Oil Corps....................................57%
......7 US Next Largest Oil Corps..........................107%
I don't think it is good for the US economy for its very high-quality Big Cable, TV, and Radio sector's 3Q 2011 earnings growth to trail the earnings growth of both the US Big Oil sector and the US Big Financial sector by such a wide gap. I think this gives a good insight into why there is such a huge wealth gap between the 1%ers and the 99% rest of the country, the Occupy Movement's major beef.
The overall US economy and US job creation won't improve dramatically until this earnings growth gap between both US Big Oil and US Big Financial vs. the rest of the US business sectors, including all of small business, is substantially closed.
Below here are these 3Q 2011 Pretax Earnings (PTI), along with a comparison with the prior year’s quarter amounts.
...........................................................................Increase
................................................PTI........PTI.......(Decrease)
.................................................3Q.........3Q..................
...............................................2011......2010....Amount....%
.................................................(millions of dollars)
Comcast 1,805 1,454 351 24%
News Corp 1,063 1,019 44 4%
DirecTV 807 756 51 7%
Viacom 807 724 83 11%
Time Warner Cable 597 556 41 7%
CBS 574 509 65 13%
DISH Networks(1) 498 466 32 7%
Discovery Commun 365 247 118 48%
Liberty Media(2) 172 31 141 455%
Scripps Networks Interactive 170 192 (22) -11%
Liberty Global(3) 158 103 55 53%
Sirius XM Radio 110 71 39 55%
Cablevision Systems 75 116 (41) -35%
CC Media Holdings (88) (171) 83 49%
Total all 14 7,113 6,073 1,040 17%
(1) DISH Networks 2010 PTI excludes large Litigation Charge.
(2) Liberty Media PTI in both years exclude Gains and Losses on Financial Instruments.
(3) Liberty Global PTI in both years exclude Foreign Currency Transaction Gains and Losses, Gains and Losses on Derivatives, and Gains and Losses on Changes in the Fair Market Value of its Investments and Debt.
