News Corp. - Class B (MM) (NASDAQ:NWS)
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2 Years : From May 2011 to May 2013
German pay-TV broadcaster Sky Deutschland (SKYD.XE) Tuesday reported solid growth in customers and narrower losses in the first quarter, and the company backed its target for positive earnings in 2013.
MAIN FACTS:
-Sky Deutschland's net loss in the first quarter narrowed to EUR73 million from a net loss of EUR87 million in the first quarter of 2011, in line with the net loss of EUR73 million a Dow Jones Newswires poll of seven analysts had expected.
-Revenues in the first quarter rose about 18% on the year to EUR318 million, ahead of the EUR315 million analysts expected.
-The company's new customers numbered 73,000 in the first three months of the year, while analysts expected 70,600 new customers.
-Average revenue per user, revenue divided by the number of subscribers, increased EUR1.19 on the year to EUR31.76, ahead of the EUR31.70 analysts expected.
-The company's loss before interest, taxes, depreciation, and amortization narrowed to EUR40.6 million from EUR55 million in the same period a year earlier, greater than the EUR39 million Ebitda loss analysts expected.
-Losses before interest and taxes narrowed to EUR56.6 million from EUR75.1 million, greater than the EUR55 million EBIT loss analysts expected.
-In 2012, the company still expects Ebitda to be significantly better than 2011, and in 2013 Ebitda is expected to be positive and to grow strongly thereafter.
-Over the past 12 months, Sky Deutschland shares have shed about 43% in value, while the Euro Stoxx TMI Media index has lost about 21%.
-News Corp., which owns Dow Jones, publisher of this newswire, has a 49.9% stake in Sky Deutschland AG.
-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500
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