Global Eagle Entertainment (ENT) Reports Q4 Revenues Above Estimates

Note: EPS may not be comparable

Global Eagle Entertainment (NASDAQ: ENT) reported Q4 EPS of ($1.51), $1.13 worse than the analyst estimate of ($0.38). Revenue for the quarter came in at $160 million versus the consensus estimate of $154.49 million.

Fourth Quarter Summary

• Total revenue for the fourth quarter of 2017 was $160 million, a 1.8% increase over the prior-year period. This increase was primarily driven by growth in service revenue in our Connectivity segment due to new aircraft, vessel and site additions.
• Net loss for the fourth quarter of 2017 was $134.4 million. During the fourth quarter of 2017, the Company recorded non-cash impairment charges of $106 million related to our Connectivity business units, including one of our joint ventures. The decline in the Company’s market capitalization during the quarter triggered a reassessment of our impairment analysis. This resulted in, among other things, an increased discount rate in our impairment model, which in turn negatively impacted the fair value of two of our Connectivity businesses.
• Adjusted EBITDA for the fourth quarter of 2017 was $19.7 million, which was a slight increase over the prior year period. Adjusted EBITDA benefitted from growth in our Connectivity segment’s service revenue as mentioned above.

For earnings history and earnings-related data on Global Eagle Entertainment (ENT) click here.

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