Oct. 21, 2015, 2:39 a.m. EDT

Sky profit beats forecasts on U.K., Germany boost

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Fox Corp. Cl A (FOXA)

or Cancel Already have a watchlist? Log In

By Simon Zekaria

LONDON--Sky PLC (SKY.LN) on Wednesday sounded an upbeat note as it reported a forecast-beating rise in quarterly earnings on higher revenue, boosted by its operations in the U.K. and Germany, as well as cost-cutting.

The pay-television giant, Europe's biggest pay-TV operator by customer numbers, said operating profit before exceptional items--a closely watched measurement of Sky's main business performance--rose 10% year-over-year to 375 million pounds ($579 million), higher than a consensus market forecast of GBP366 million. It didn't disclose net profit.

Revenue rose 6% to GBP2.79 billion, in line with a forecast of GBP2.78 billion.

The number of products its customers use, including broadband services and high-definition TV, jumped 937,000. It also added 134,000 customers in the quarter.

"We have made a strong start to the year," said Chief Executive Jeremy Darroch.

Sky is 39%-owned by 21st Century Fox Inc. /zigman2/quotes/207816609/composite FOXA +0.13% , which until June 2013 was part of the same company as The Wall Street Journal parent, News Corp. (NWS.AU).

Shares closed Tuesday at 1,069 pence.

-Write to Simon Zekaria at simon.zekaria@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

/zigman2/quotes/207816609/composite
US : U.S.: Nasdaq
$ 37.47
+0.05 +0.13%
Volume: 2.55M
April 13, 2021 4:00p
P/E Ratio
14.81
Dividend Yield
1.23%
Market Cap
$21.76 billion
Rev. per Employee
$1.37M
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.