BSkyB posts quarterly loss but exceeds expectations

Pay-TV operator British Sky Broadcasting posted a small loss for the most recent quarter, but exceeded expectations on the number of new customers, an Associated Press report said.

BSkyB also said it remained positive about its outlook despite the economic slowdown.

BSkyB reported a loss of 9 million pounds (€11.4 million) for the three months ended June 30, the company's fiscal fourth, contrasting with a profit of 111 million pounds in the corresponding quarter a year ago.

Revenue rose 5% to 1.24 billion pounds (€1.6 billion), from 1.18 billion pounds (€1.5 billion).

Over the full year through the end of June, the company recorded a net loss of 127 million pounds (€161 million), compared with a 499 million pound profit the year before. Revenue rose 9% to 4.95 billion pounds (€6.2 billion), from 4.55 billion pounds.

BSkyB was hit this year with a 616 million pound (€783 million) impairment charge on its investment in terrestrial broadcaster, ITV. It also invested more in broadband and telephony.

BSKYB, which is controlled by Rupert Murdoch's News Corp. with a 39% stake, said it added 92,000 net new customers over the quarter, bettering analyst expectations of around 85,000.