Eros International (EROS) Reports Q4 Revenues Above Estimates

Eros International (NYSE: EROS) reported Q4revenue for the quarter came in at $71.9 million versus the consensus estimate of $69.34 million.

• Revenue of $71.9 million, increase of 36.4% year-over-year
• Operating profit of $21.2 million, increase of 360.9% year-over-year
• Operating profit margin expanded to 29.5%
• Adjusted EBITDA of $24.1 million, increase of 156.4% year-over-year
• Adjusted EBITDA margin expanded to 33.5%

Kishore Lulla, Eros’ Group Executive Chairman and Chief Executive Officer, stated: “I am extremely proud of the hard work by the entire team in helping to drive a strong financial and operating performance in Fiscal 2018. This has been a landmark year for Eros for several reasons, including reaching 7.9 million paying subscribers for Eros Now at year end and signing a ground-breaking partnership with Reliance, to name a few.

The digital landscape in India has evolved rapidly over the past few years and, as we have highlighted before, is dominated by the mobile internet and smartphones. Our partnerships with the major Indian mobile operators have enabled us to cast a wide net and reach the majority of the addressable 3G/4G market. This has given us a head-start in the OTT space to engage and entertain millions of consumers eager for premium content at a competitive price. Going forward, our plan is to focus our investments in new, cutting-edge original content to cement our leadership position and grow our direct-to-consumer subscriber base. We are also renewing our efforts to market and reach more consumers outside of India – especially in markets like the US, Europe and Asia.

I believe that our strong balance sheet, market leadership and differentiated business strategy gives us a powerful and sustainable competitive advantage as we consolidate our position within the rapidly growing Indian media and entertainment sector. I want to thank everyone for their continued support on our journey.”

For earnings history and earnings-related data on Eros International (EROS) click here.

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