Analysts had forecast that Sky's full-year earnings before interest and tax would be in the range of £770m-£810m, and Sky chief executive and Murdoch's son James had agreed with this figure two weeks ago at the company's first-quarter results.
His father, who is chairman of Sky, lowered that forecast in an informal meeting with analysts in Sydney on Monday this week.
A Deutsche Bank analyst quoted Murdoch senior as saying: "The three-year build-out of broadband and telephony capability at BSkyB would result in earnings before interest and tax falling from £900m to £700m and possibly £650m."
The London Stock Exchange reacted yesterday, with Sky's share price spiralling down 2.4% to 537p.
Sky itself is now suggesting a range of £730m to £820m, with a spokesman saying it is "happy with current market expectations".
After launching Sky Broadband in July, by the end of October the company had connected 74,000 customers and had a total of 1m people register their interest in the service.
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