Sharewatch: BSkyB Boosted Despite Slowing Subscribers

BSkyB saw a healthy week’s trading, rising by 4.23% to close at 554p on Friday following a week in which it unveiled revenues for its first financial quarter increasing by 11%, despite adding only 62,000 new subscribers in the same period, once again failing to meet its target of 100,000 per quarter.

During the three month period, total revenue climbed to £940 million, as operating profit before goodwill increased by 26% to £190 million and post-tax profit increased by 30% to £122 million. According to a statement made to investors, the broadcaster’s Sky Active and SkyBet revenues increased by 8% to £52 million, spurred by the popularity of its interactive betting, gaming and casino services (see Sky Revenue Up 11% Despite Missing Subscriber Target).

Newspaper publisher Pearson also saw a rise in week on week analysis, climbing by 4.23% to close at 640p on Friday afternoon. Last week the company gave a third quarter trading statement, revealing that its flagship newspaper, the Financial Times, is on course to break even by the end of the year despite an erratic advertising market (see Financial Times Expected To Break Even By Year End).

ITV saw one of the largest week on week rises, adding 5.59% to its share price, closing at 113źp on Friday. The broadcaster last week announced a strong performance for its new digital entertainment channel for older viewers, ITV3, in its first week of operation. The channel has notched up an impressive share of viewing and outperformed rivals in terms of viewing (see Figures Show ITV3 Getting Off To Flying Start).

The closing prices of media company shares on Friday were: