Sky Full-Year Earnings, Subscribers Rise

Courtesy of Sky
Sky

The pan-European pay TV giant, in which Rupert Murdoch's 21st Century Fox owns a 39 percent stake, posts its fiscal-year results.

Pan-European pay TV giant Sky on Thursday said it continued to add video subscribers in the latest quarter and year and reported higher pre-tax and operating earnings for its full fiscal year.

The pan-European pay TV giant, in which Rupert Murdoch's 21st Century Fox owns a 39 percent stake, is led by CEO Jeremy Darroch.

Profit before tax for the year ending on June 30 rose, as did earnings before interest, taxes, depreciation and amortization (EBITDA). Earnings per share also increased.

Sky said it signed up 808,000 new customers, which the company calls "group retail customers," over the last 12 months. The company has operations in the U.K., Ireland, Italy, Germany and Austria.

The company reported a 7 percent increase in revenue to £11.96 billion ($15.8 billion), with adjusted operating profit up 12 percent to £1.56 billion ($2.05 billion).

Speaking on an earnings call, Darroch dismissed any concerns regarding the Brexit, saying the company was "on it," but the U.K.'s decision to leave the European Union hadn't changed its business plans.

"The only thing that people reflect on is if the U.K. went more into recession," he said. "But in the past we've seen that people regress to the home, and we've done very well in that environment because we've got such a strong offering."

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