Sky back in profit ahead of cutting 900 UK jobs

Sky returns to profit with £1bn turnaround ahead of 600 job cuts

Media and telecommunications giant Sky is back in the green after a huge turnaround, bouncing back from a £773 million loss in 2023.  The Comcast-owned firm has posted a pre-tax profit of £253m for its 2024 financial year, in accounts filed on Companies House.  Revenue for the year also increased slightly to £10.3 billion. In September, the London-headquartered business reported that it is to make roughly 600 tech roles redundant as it moves awa…

Sky returns to profit ahead of cutting 900 UK jobs

The media and telecoms giant, which was bought by the US media company Comcast for £30bn in 2018, has posted a pre-tax profit of £253m for its latest financial year

Sky back in profit ahead of cutting 900 UK jobs

Media and telecoms giant Sky recovered from losing almost £800m to return to the black in 2024 before preparing to cut hundreds of jobs. Sky, which was bought by the US media company Comcast for £30bn in 2018, has posted a pre-tax profit of £253m for its latest financial year. The total comes after Sky fell to a pre-tax loss of £773m in 2023. New accounts filed with Companies House also show its revenue increased from £10.2bn to £10.3bn. Sky’s d…