Sky Posts Solid First-Quarter Revenue Driven by Subscriber Gains and Price Increases; Undervalued
Sky reported fiscal first-quarter sales in line with our expectations, and we are maintaining our fair value estimate and narrow moat rating. The firm's reported revenue for the quarter was 13%, which is well ahead of our full-year projection of 5.8%. However, this difference was due to a one-time benefit from sub-licensing the rights to the summer Olympics in Italy and a two percentage point currency gain from the weakening of the pound versus the euro. Adjusted for those events the firm's reve...Sky is an entertainment and communications company, engaged in the operation of pay television broadcasting and home communications services, including the provision of broadband and telephone operations. Co. operates in three segments: UK and Ireland, which is involved in the activities and operations of the pay TV, home communications, mobile and adjacent businesses; Germany and Austria, which is involved in the activities and operations of the pay TV and adjacent businesses; and Italy, which is involved in the activities and operations of the pay TV and adjacent businesses. Co. provides entertainment from live sporting events, drama, U.S. and local shows and blockbuster movies.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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