Sky beats subs forecasts
BSkyB beat market expectations by adding a net 82,000 subscribers in the three months to September, beating the consensus forecast of 60,000 and taking the total to 8.26m.
James Murdoch, chief executive, said new customers were attracted to the range of products that the company was offering, such as Sky+, the digital video recorder, and high definition TV. BSkyB reported a 17 per cent fall in first-quarter pre-tax profits to £166m (E240m). Revenue rose 11 per cent to £1.07bn. Profits were diluted by the investment in its broadband operations, and operating profits fell 16 per cent to £180m, in line with expectations.
BSkyB said it had received about 1m registrations of interest in the broadband service, which was launched in July, and that there were 74,000 customers. The broadband service saw an operating loss of £42m, including a £7m operating loss at Easynet. BSkyB bought Easynet, a provider of broadband services for £211m and is expected to spend an additional £400m over the next three years to develop broadband. The company is processing about 20,000 orders a week, and expected to bring that figure up to 30,000 by the end of the year.
The company said churn was 11.8 per cent, compared to 11.7 per cent the same time last year. |
