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Sky meets forecasts with first quarter revenue rise

Sky has reported a 7% rise in first quarter group revenue to £3.1 billion
Sky has reported a 7% rise in first quarter group revenue to £3.1 billion

European pay-TV group Sky has today reported a 5% rise in underlying revenue in its first quarter.

This was in line with its expectations in a year when it is paying higher costs for the premium soccer and entertainment content it offer viewers. 

The broadcaster had its most successful drama series debut earlier this month with sci-fi series "Westworld" and started Friday night Premier league football this season.

It reported group revenue up 7% to £3.1 billion, with like-for-like revenue up 5%, in line with its forecasts.

Sky has predicted growth for the full year of 5-7%, and cost savings to substantially absorb the impact on profits from a £600m one-off rise in the cost of Premier League rights.