Eros Int'l. (EROS) Stock Soars, Revenue Nearly Doubles Year Over Year
NEW YORK (TheStreet) -- Eros International (EROS) - Get Report stock is up by 9.49% to $8.19 on heavy volume in late morning trading on Tuesday, after the company reported its fiscal 2016 second quarter financial results before the market open today.
The company, which serves the Indian film entertainment industry, posted earnings of 12.3 cents per share, up from 5.2 cents per share for the year ago period.
Revenue climbed by 97.7% year over year, to $98.79 million from $49.92 million for the fiscal 2015 second quarter.
Analysts had forecast for earnings of 39 cents per share on revenue of $90.71 million for the most recent quarter.
"It gives me great pleasure to report our second quarter fiscal 2016 results which demonstrate that our business is strong," CEO Jyoti Deshpande said in a statement. "Fiscal year 2016 has been one of our best years yet in terms of film slate performance as Eros films currently hold three out of the top four box office positions in India. With revenues up by 97.9% to $98.8 million and Adjusted EBITDA up by 159.5% to $36 million in the three months ended September 30, 2015, we can safely say this has been a blockbuster quarter."
About 4.03 million shares of Eros Int'l. have been traded so far today, well above the company's average trading volume of about 2.43 million shares a day.
Separately, TheStreet Ratings team rates EROS INTERNATIONAL PLC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
We rate EROS INTERNATIONAL PLC (EROS) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its generally disappointing historical performance in the stock itself and poor profit margins.
You can view the full analysis from the report here: EROS
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