Sky posts 14% rise in nine-month earnings
It added 480,000 new customers in the previous year to 22.9 million, with a Q3 growth of 38,000.
Earnings before interest, taxation, depreciation and amortisation (EBITDA) in Sky's established markets climbed 14% to £1.8bn compared with the same nine-month period previous year. The company's earnings before interest, tax, depreciation and amortization rose 10% year-on-year to GBP1.7 billion from GBP1.5 billion.
However, while Germany waits for the May 2 launch of Sky Q, the subscriber base fell by 30,000 on the quarter, though overall the year-over-year figure was up at 5.2 million. In the UK & Ireland revenue for the third quarter was GBP6.7 billion, up 4.0% from GBP6.4 billion the year before, driven by customer number growth. "Customers can look forward to an even broader choice of entertainment through our pioneering new partnerships with Netflix and Spotify, together with our new Premier League deal which secures the United Kingdom rights until 2022".
Sky reported a 5% increase in like for like revenue at £10.1 billion.
Customer numbers were up by 38,000 in the third quarter, including a 70,000 rise in the United Kingdom but a decline of 30,000 in Germany and Austria as the group scales back discounts in favour of higher value customers.
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Check Capital Management INC Decreased Stake in Suncor (SU)
According to 2017Q4 Securities and Exchange form the Check Capital Management Inc reduced its holdings in Suncor (SU) by 52.39%. TD Securities upgraded Suncor Energy from a hold rating to a buy rating in a report on Friday, February 9th.
EPS for Wingstop Inc. (WING) Expected At $0.20 on May, 3
Wingstop Inc is franchisor and operator of restaurants that specializes in cooked-to-order, hand-sauced and tossed chicken wings. Hislop sold 5,000 shares of the firm's stock in a transaction on Monday, March 12th. (NASDAQ:WING) to report earnings on May, 3.
In March, the company announced its partnership with Netflix to bundle its full service into a brand new Sky TV pack in Europe.
"It's been a good quarter for Sky", commented Darroch.
For the nine-month period ended 31 March 2018, the European pay-TV giant posted revenues of £10.144 billion, up 5% on a like-for-like basis compared to the same period of 2017, reporting good growth in all territories - that is the United Kingdom and Ireland, Germany and Austria and Italy - and all categories.
Mr Darroch said: "Looking ahead, we have the right strategy and abilities in place to provide customers with the best content, products and service".
CEO Jeremy Darroch said Sky's priorities remained unchanged against a back drop of a challenging consumer environment.
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