Eros International PLC (NYSE:EROS) 1Q20 Result Swing To Profit

Share on Stocktwits

Eros International PLC (NYSE:EROS) reported first quarter earnings before market open today.

The company disclosed income for the first quarter of $ 5.07 million or $ 0.03 per share, compared to loss of $ 9.49 million or $ 0.20 per share, in the same quarter last year.

EROS recorded revenue that shrunk 27.74 percent to $ 43.51 million from $ 60.21 million in the same quarter last year

According to street consensus, EROS was expected to report 1Q20 income of $ 0.12 per share from revenue of $ 66.74 million.

Analysts estimates are from Thomson Reuters, exclude one time gain or loss.

The Company made the following statement: We are pleased to announce a positive set of results this quarter, with $43.5 million of revenue and $18.6 million in adjusted EBITDA. The hard work and investment we have made in the Eros Now platform continues to pay off. Our Eros Now business offers users worldwide the promise of endless entertainment with one of the largest libraries of Indian movies, as well as premium television programmes, music videos and audio tracks, which are unmatched in quantity and quality.

Eros paid subscribers climbed 21.1 million as of June 30, 2019, representing growth of 108.9% compared to last year.

Follow Us on StockTwits