Eros International reports Q1 EPS (2.3c), consensus (2c)
Reports Q1 revenue $60.8M, consensus $52.78M. The company said, "Fiscal Year 2018 is off to a solid start with strong Revenue and EBITDA. We also delivered very strong growth at Eros Now, crossing 3.7 million paying subscribers, a growth of 28% over the previous quarter and now have over 75 million registered users as of September end. Much of our success is attributable to our focus on in-house production and a well-balanced Hindi and regional film release strategy combined with robust library monetization across distribution channels within India and internationally. Last month, one of our recent releases, Newton, was chosen as India's official submission for the Best Foreign Language Film category at the upcoming US Academy Awards. In addition, we have a strong slate for the rest of Fiscal Year 2018. We continue to focus on sensibly budgeted films that are content driven and backed by pre-sales potential with lower reliance on box office success rather than big budget big star cast high profile films. This is reflected in our improving margins. Trinity Pictures, our franchise film label, continues to work on exciting projects including the two Indo-China co-productions and has begun work on over 20 new franchises which are in various stages of production and development."