Sky's Earnings Climb on Subscriber Growth in U.K., Germany

By Simon Zekaria

LONDON--Sky PLC's (SKY.LN) earnings climbed Thursday as subscriber growth and demand for new products in the U.K. and Germany pushed up revenue for the satellite broadcaster and pay-TV giant.

Sky, Europe's biggest pay-TV group by customer numbers, said operating profit before exceptional items--a key measurement of business performance--in the nine months ended March 31 rose to 1.14 billion pounds ($1.64 billion) from GBP1.03 billion in the same period a year earlier, and in line with market expectations. It didn't disclose net profit.

Revenue increased to GBP8.72 billion from GBP8.45 billion, also in line with forecasts.

"It's been another strong quarter for Sky," said Chief Executive Jeremy Darroch.

Sky is 39%-owned by 21st Century Fox Inc. (FOXA), which until June 2013 was part of the same company as The Wall Street Journal parent News Corp (NWS).

Sky shares closed Wednesday at 1,028 pence, valuing the company at GBP17.7 billion.

Write to Simon Zekaria at [e-mail]

(END) Dow Jones Newswires

April 21, 2016 02:28 ET (06:28 GMT)

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