The third quarter has many businesses in a bit of a slump as far as profits are concerned. Calix, a major supplier in the telecommunication equipment industry, was one of these businesses. The company released a statement earlier this month showing a significant decrease in revenue by 2.8% from this time last year. It wasn’t all bad news for Calix though. President Carl Russo pointed out that revenue might be down, but there is still growth compared to the last quarter.
Calix isn’t the only company that has seen major losses going into the third quarter. Applied Micro Circuits Corporation joins the group of companies struggling with revenue. The optical communications and computer data storage company released a detailed financial report with losses clearly stated at a 33% drop in profit from last year. Applied Micro faces a tough year ahead.
Despite difficulties for the above mentioned corporations, there is one company now on the rise. Comcast Corp. made the choice to serve businesses that employed more than twenty individuals. By moving up-market and serving larger companies, Comcast has seen a sizeable increase in revenue. The Vice Chairman and CFO reported earnings of over ninety million alone from these mid-sized companies, or about fifteen percent of the total revenue produced by business service customers. Overall Comcast has seen a thirty four percent rise in business services revenue. With profits steadily rising, Comcast is poised to make record profits by year's end.