Sky's Earnings Climb on Subscriber Growth in U.K., Germany
April 21 2016 - 2:43AM
Dow Jones News
By Simon Zekaria
LONDON--Sky PLC's (SKY.LN) earnings climbed Thursday as
subscriber growth and demand for new products in the U.K. and
Germany pushed up revenue for the satellite broadcaster and pay-TV
giant.
Sky, Europe's biggest pay-TV group by customer numbers, said
operating profit before exceptional items--a key measurement of
business performance--in the nine months ended March 31 rose to
1.14 billion pounds ($1.64 billion) from GBP1.03 billion in the
same period a year earlier, and in line with market expectations.
It didn't disclose net profit.
Revenue increased to GBP8.72 billion from GBP8.45 billion, also
in line with forecasts.
"It's been another strong quarter for Sky," said Chief Executive
Jeremy Darroch.
Sky is 39%-owned by 21st Century Fox Inc. (FOXA), which until
June 2013 was part of the same company as The Wall Street Journal
parent News Corp (NWS).
Sky shares closed Wednesday at 1,028 pence, valuing the company
at GBP17.7 billion.
Write to Simon Zekaria at simon.zekaria@wsj.com
(END) Dow Jones Newswires
April 21, 2016 02:28 ET (06:28 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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