Eros Earnings: EROS Stock Soars 12% Despite Miss

Advertisement

Eros (NYSE:EROS) earnings for the entertainment company’s fiscal second quarter of 2020 have EROS stock soaring on Friday. The company reported diluted per-share losses of -27.60 cents and revenue of $32.37 million. These are both below Wall Street’s estimates of 7 cents per share and $47.57 million.

Eros Earnings: EROS Stock Soars 12% Despite Miss

Source: Shutterstock.com

Let’s take a more in-depth look at the most recent Eros earnings report.

  • Diluted losses per share are a switch from diluted earnings per share in the same period of the year prior.
  • Revenue is sitting 38.97% lower than $63.43 million in the fiscal second quarter of 2019.
  • Eros earnings see the company report an operating loss instead of operating income for the same time last year.
  • The same is also true as the company reported a net loss instead of net income in the current quarter.

Eros includes the following statement with its earnings report for the fiscal second quarter of 2020.

“As of September 30, 2019 our Eros Now OTT platform reached 23.5 million paid monthly subscribers and 177.7 million registered users, increases of 81% and 39%, respectively, over the same period last year. This represents net additions of 4.7 million paid subscribers and 23 million registered users during the first half of Fiscal Year 2020.”

The Eros earnings report also has it reiterating its outlook for fiscal 2020. That includes revenue ranging from $200 million to $220 million. That still gives it a good chance of beating Wall Street’s revenue estimate of $200.95 million for the period.

EROS stock closed out the day up 11.52% Friday and is up nearly 1% in after-hours trading.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2019/11/eros-earnings-boost-stock-despite-miss/.

©2024 InvestorPlace Media, LLC