Sky Reported In-Line Nine-Month Results; Shares Fairly Valued
Sky reported solid nine-month results in line with our expectations, and we don’t expect to make any significant changes to our fair value estimate. Our narrow moat rating remains intact. Reported revenue grew 11% due to the strength of the euro versus the British pound. Underlying revenue grew 5%, versus our full year projection of 6.2%. While subscriber growth slowed in the fiscal third quarter in the U.K. to 40,000 net new customers, this is historically its slowest quarter. In Italy, the fir...
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.
We have operations in 27 countries.
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