Home Business News Sky profits soar amid Comcast-Fox bidding war

Sky profits soar amid Comcast-Fox bidding war

by LLB Reporter
26th Jul 18 9:20 am

Beating all growth expectations, Sky has reported a 9 per cent rise in full-year core earnings after it added more than 500,000 customers across its European operations.

The broadcast group, which is at the centre of a bidding war between Rupert Murdoch’s Fox and Comcast, also said that statutory operating profit in the year to June rose by 7 per cent to £1.034bn.

Chief executive Jeremy Darroch said it had been an “exceptional year” for the UK-based broadcaster and it was entering its new year with good momentum.

“Over half a million new customers joined Sky this year and we now have 63 million products in customer’s homes as they continue to choose Sky over other providers,” he said.

Sky, which is 39 per cent owned by Fox, reported core earnings of £2.35bn on revenue up 5 per cent to £13.59bn.

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