Online TV giant Netflix is tipped to report that its pre-tax profits have nearly quadrupled to $199million thanks to hit shows such as The Crown and Gilmore Girls, when it unveils its first quarter results tomorrow.

City news: The Crown boosts Netflix, Illegal software and Cobham £512m share sale

According to the consensus forecast from Wall Street analysts, Netflix will say that its revenues grew 34.9 per cent to $2.6billion (£2.1billion) thanks to strong international expansion boosting its subscriber figures.

Netflix’s profitability has been aided by moving long-time subscribers in the US, who were on low, early deals, on to higher rates.

Elsewhere, on Thursday pay-TV giant Sky will unveil its third quarter results, which are expected to show that revenues are up and that it added tens of thousands of new customers over the three months to the end of March.

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Illegal software use costs small firms

Small businesses paid out nearly £1million in fines and damages last year for illegally using software, according to new figures from trade group BSA The Software Alliance.

It said the total cost to small-tomedium sized enterprises (SMEs) from using unlicensed software had risen from £770,192 to £914,587, with the largest fine being £84,300.

The proportion of firms using unlicensed software has fallen two percentage points since 2014 to 22 per cent.

Cobham seeking £512m share sale

Struggling defence giant Cobham will seek shareholder approval for its £512million rescue refinancing on Tuesday.

Cobham needs the rights issue or emergency share sale money to repair its tattered balance sheet.

The firm has endured a torrid year, during which it has issued five profit warnings and seen losses spiral because of write-downs on a series of poorly integrated acquisitions

Posted on; Express.co.uk>>

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