Lacklustre financial results unveiled by Sky

Sky has unveiled what city analysts called ‘lacklustre’ third-quarter finanicial results, announcing 40,000 new subscribers overall for the three months ending March 31st. The broadcaster announced net profits that were up £11 million to £151 million for the quarter, on revenue up 9% to £1.1 billion. Year-to-date revenue totaled £3.1 billion for the nine months through the end of March, with net profits for the period totaling £609 million. Churn (the percentage of customers to quit the service over the period) rose 0.8% to 11.4% for the quarter, also worse than expected.