Eros International EROS reported first-quarter earnings of 2 cents per share, which missed the analyst consensus estimate of 12 cents by 76.67%. This is a 114% increase over losses of 20 cents per share from the same period last year.
The company reported quarterly sales of $43.5 million, which missed the analyst consensus estimate of $66.74 million by 34.82%. This is a 27.76% decrease over sales of $60.212 million the same period last year.
"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,” the company said in statement.
The company is planning to achieve 50 million paid monthly subscribers within the next three years.
Eros shares were trading down 8.38% at $1.58 at time of publication. The stock has a 52-week high of $12.81 and a 52-week low of $1.14.
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