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Eros International +3.8% after Q2 beat, sharp sub growth

Published 11/15/2018, 10:44 AM
Updated 11/15/2018, 10:44 AM
© Reuters. Eros International +3.8% after Q2 beat, sharp sub growth
  • Eros International (NYSE:EROS) is up 3.8% after it beat profit expectations and sharply grew its paying subscribers in a fiscal Q2 report.
  • Revenue rose by double digits and adjusted EBITDA grew 44% to $24.8M. EBITDA margin grew to 39.1% from a year-ago 27.2%.
  • In user metrics, streaming service Eros Now hit 128M registered users worldwide. Paying subscribers jumped 251% to 13M, and the company reiterated guidance to hit 16M paying subs by the end of fiscal 2019 (end of March).
  • Eros released 17 films in the quarter (four medium budget, 13 low-budget) vs. seven a year ago (two medium budget, five low budget) -- continuing an emphasis on lower-budget content-driven films rather than star vehicles.
  • A content partnership with iQiyi makes it the first South Asian over-the-top player to penetrate the Chinese market, the company notes.
  • Previously: Eros International beats by $0.14, misses on revenue (Nov. 15 2018)
  • Press release


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