Another record quarter of subscriber growth testifies again to the strengths of Sky’s marketing strategy and its successful entry into the telecommunications arena. The target of 10 million subscribers by the end of 2010 looks increasingly likely

TM is now looking at a sales target of £450 million instead of £600 million, though the revised target may still be too high, with the sale taking place at a time when regional newspaper fortunes are at a low ebb

Other results present a mixed picture: some improvements in costs, some progress online, but persisting doubts about TM’s ability to match its competitors over national newspaper sales and advertising revenues

Apple has at least revolutionised two aspects of the mobile business: getting customers to queue overnight for a handset, and selling ‘contracts-in-a-box’, neither of which are likely to catch on in Europe

Ofcom’s decision to hold a consultation on Sky’s pay DTT proposal will prevent its launch before Q1 2008 at the earliest and could be delayed to 2010 if Ofcom’s current investigation of the UK pay TV market ends, as seems increasingly likely, with a referral decision to the Competition Commission

The distribution business had a strong year, marred by a longer than usual Christmas hangover in the last quarter, but the early signs for the new financial year are promising

50% of UK households now have a broadband line installed, but market growth is dropping. Rolling 12-month net additions were below three million for the first time since Q3 2004

Vodafone achieved its 2006/07 full year targets on revenue and profitability, with solid revenue growth (underlying about 2% in Europe) but dropping margins (by around 2pps in Europe)

The performance of the international business remains solid

French altnet Neuf Cegetel is buying Club Internet from Deutsche Telekom for an estimated €500 million and will overtake its rival Free as the #2 on the DSL market, still way behind Orange

Growth in Q1 2007 for the aggregate non-Vodafone European mobile operations was 4.2%, a slight decline from 4.7% last quarter (Vodafone reports its results next week)

Revenue growth was weaker but EBITDA growth remained strong and capex fell, sending cash flow growth strongly positive