Sky (LON:SKY) posted a 14 percent rise in core earnings in the first nine months of the year, applauding an “excellent” performance in a competitive market.
Like-for-like revenue grew by 5 percent, or £441 million, to £10,144 million in the nine months to 31 March, with content revenue up 17 percent to £617 million and advertising revenue growth up 9 percent.
Geographically, revenues increased by 4 percent in the UK, 6 percent in Germany and Austria and 5 percent in Italy. Customer numbers rose by 38,000 in the third quarter, including a 70,000 rise in the UK but a decline of 30,000 in Germany and Austria. Over the last year, customer numbers have risen by 480,000 to 22.9 million.
Jeremy Darroch, group chief executive, said:”It’s been a good quarter for Sky. We’ve delivered excellent financial results.”
“Today’s results not only demonstrate continued strong execution but also extend our position as Europe’s leading direct-to-consumer media business.”
He added: “Looking ahead, we have the right strategy and abilities in place to provide customers with the best content, products and service. Whilst we expect the consumer environment to remain challenging, the business is in good shape and we remain on track for the full year.”
Shares in Sky are currently trading up 0.68 percent at 1,317.34 (0824GMT).
