• Fri, Jul. 21, 12:55 PM
    • Eros International (NYSE:EROS) is halted on NYSE, hitting a circuit breaker after plunging 20%.
    • Shares had run from $8.80 to $13.90 from June 8 to this Wednesday before dropping 2% yesterday.
    • The stock has been hit this year with accusations of accounting fraud, and shares dropped in March after film delays spurred short reports raising concerns about liquidity.
    • Updated 1:01 p.m.: Shares are -15.8% in resumed trading.
    Fri, Jul. 21, 12:55 PM | 2 Comments
  • Mon, Apr. 3, 3:43 PM
    • After falling 16.2% overall since a March 9 GeoInvesting short report that raised chatter about liquidity concerns, India film producer Eros International (NYSE:EROS) says it has extended the maturity of its $85M revolving credit facility.
    • The maturity has been pushed out from April 1, 2017 to Sept. 30, 2017. It's also working on "multiple long-term refinancing options" to replace the revolver.
    • "The company’s long term shareholders continue to stand in support," Eros says, pointing to strong fundamentals including its new release slate, its back catalog and growth in new markets such as China.
    • Shares have turned for the worse again this afternoon, -3.9% to drop below the $10 mark.
    Mon, Apr. 3, 3:43 PM | 6 Comments
  • Wed, Mar. 22, 11:34 AM
    • Indian film producer Eros International (NYSE:EROS) is off 6.4% as bearish investors raise new liquidity questions around the postponement of Sarkar 3, a high-profile film fronted by Bollywood legend Amitabh Bachchan.
    • The sequel was set to release April 7, and has been delayed to May 12. A Web report attributes the move to a cash crunch at Eros: “According to sources #sarkar3 can't release on 7th April coz Eros is not paying balance 23Cr to producers" -- 23 crore in rupees, or about $3.5M.
    • In a tweet, Eros has said the postponement was a mutual decision between themselves, Bachchan, director/producer Ram Gopal Varma and Save.
    • Share volume is heavy on the NYSE, about to surpass standard full-day volume of 339,800 shares this morning.
    Wed, Mar. 22, 11:34 AM | 4 Comments
  • Thu, Mar. 9, 10:08 AM
    • Eros International (NYSE:EROS) is up 1.3% in a bit of a rebound after it issued a statement on postponing a dollar bond offering, and worked to rebut a short report that drove shares down.
    • Shares fell 12.6% as Dan David of GeoInvesting described "explosive" evidence alleging fraud at Eros, suggesting the company is channeling money through dummy production deals.
    • In a statement, Eros said it was postponing an "opportunistic" bond offering due to "the recent change in credit market conditions." Since the offering was to refinance existing debt, Eros says it doesn't believe the move has any effect on liquidity.
    • “Yesterday, a short-selling website republished certain allegations made in a lawsuit from an anonymous person about purported events that occurred several years before Eros International Plc went public on the NYSE," Eros says. "The lawsuit and all of its allegations are completely baseless and without merit, and the court is currently considering its dismissal."
    Thu, Mar. 9, 10:08 AM | 1 Comment
  • Tue, Feb. 21, 10:56 AM
    • Eros International (NYSE:EROS) is 2.8% lower on the day after missing expectations in its third-quarter earnings, despite swinging to a profit with the help of changes to India's monetary policy.
    • EBITDA rose 63% to $14.5M but missed an expected $18.5M. EPS of $0.13 beat GAAP expectations but missed an expected $0.18 on a non-GAAP basis.
    • Profitability and margins increased heavily though revenues dropped 5%, largely due to demonetization impacts on theatrical revenues vs. high-margin catalog sales, Eros notes.
    • Revenue by customer location: India, $24.8M (down 26.2%); Europe, $1.46M (down 76.5%); North America, $4.53M (down 14%); Rest of world, $26.55M (up 73%).
    • The company's streaming service, Eros Now, crossed 2M paying subscribers in Q3.
    • Press Release
    Tue, Feb. 21, 10:56 AM
  • Tue, Feb. 21, 8:05 AM
    • Eros International (NYSE:EROS): FQ3 EPS of $0.13 beats by $0.01.
    • Revenue of $57.35M (-5.1% Y/Y) misses by $23.4M.
    • Press Release
    Tue, Feb. 21, 8:05 AM
  • Mon, Feb. 20, 5:30 PM
  • Fri, Jan. 27, 1:58 PM
    • Eros International (EROS +2.5%) and its streaming service Eros Now have sealed key partnerships in India with electronic payment platforms.
    • The deals -- with Paytm, Mobikwik and Freecharge -- should ease subscriptions to the service after India's recent demonetization, says Eros Digital CEO Rishika Lulla Singh.
    • Paytm has a user base of more than 150M, while Mobikwik has reached 40M and Bangalore-based Freecharge has more than 50M.
    Fri, Jan. 27, 1:58 PM
  • Tue, Jan. 24, 2:00 PM
    Tue, Jan. 24, 2:00 PM
  • Wed, Jan. 11, 11:17 AM
    • India Filmmaker Eros International (EROS +1.8%), building off some fast growth on its over-the-top service, has set an ambitious slate for the next couple of years.
    • The company plans to produce more than 50 films across eight languages, as well as acquire content on an opportunistic basis.
    • That includes an expanded regional presence, with more than 25 releases across Bengali, Marathi, Tamil, Telugu, Malayalam and Punjabi.
    • More than 40 directors are on board and the company is partnering with Aanand L. Rai and joint project Colour Yellow, NextGen Films, and Trinity Pictures.
    Wed, Jan. 11, 11:17 AM | 2 Comments
  • Dec. 14, 2016, 12:20 PM
    • Eros International PLC (NYSE:EROS) announced that Eros Now has entered into a strategic partnership in India with Paytm to enable Eros Now subscribers to make easy and hassle free payments using the e-wallet service.
    • Commenting on the association, Rishika Lulla Singh, CEO, Eros Digital said, “E-wallets are becoming vastly popular, especially with India’s youth, as they provide on-the-go, convenient payments. Post demonetization in India, there has been a high surge in mobile and digital payments as we move towards a digital economy along with a rise in internet penetration and smartphone usage; we are excited to join hands with India’s largest mobile payments and commerce platform, Paytm to provide safe, transparent, and easy payments. This association furthers our strategy to continue providing a seamless experience and endless entertainment to our two million paid subscribers and over 55 million registered users worldwide”.
    • Press Release
    Dec. 14, 2016, 12:20 PM
  • Nov. 21, 2016, 12:45 PM
    • Eros Now, on-demand entertainment platform of Eros International Plc (NYSE:EROS) announced a distribution partnership with Vodafone India, one of India’s leading telecom service providers, for integration with Vodafone Play.
    • This partnership will enable users of Vodafone Play to gain access to Eros Now’s premium Bollywood content offering thousands of new and classic Bollywood movies including its latest blockbusters.
    • Speaking on the collaboration, Rishika Lulla Singh, CEO Eros Digital said, “An important part of our digital strategy is to be platform-agnostic and we are delighted to partner with Vodafone, a leading player in its space. Joining forces with Vodafone, a prominent telecom service provider, offers us an opportunity to further strengthen our customer reach.”
    • Press Release
    Nov. 21, 2016, 12:45 PM
  • Nov. 17, 2016, 7:56 PM
    • Eros International (EROS -2.4%) has set a strategic deal with Central Partnership -- a Russian film distributor/producer that's an affiliate of Gazprom Media Holding.
    • The two will promote and distribute the Indian films that are Eros' specialty along with Russian content across multiple platforms in both countries.
    • As part of the arrangement, CP will dub Eros' films in Russian language, which Eros can use to reach out to a wider audience for its streaming service Eros Now.
    • CP will work to showcase Eros Now on-demand content on its RUFORM network through Rutube.
    Nov. 17, 2016, 7:56 PM
  • Nov. 11, 2016, 12:06 PM
    • Indian-film firm Eros International (NYSE:EROS) is down 1.9% today following a surprise loss in its fiscal Q2 earnings report as it worked through a lighter slate.
    • Revenues slipped 27% and operating profit fell 79% to $5.5M. Meanwhile, net income swung to a $1.4M loss from a year-ago $11M profit.
    • The company had only two high-budget films in the quarter, vs. three a year ago (and one of which was its highest-grossing film for the fiscal year, Bajrangi Bhaijaan.)
    • Eros Now, its on-demand video service, has hit 55M registered users and 1.32M paid subscribers. With its having hit the years' target of 1M paid subscribers early, in Q1, the company is still pushing for 2M paid subs by the end of fiscal 2017.
    • Press Release
    Nov. 11, 2016, 12:06 PM | 1 Comment
  • Nov. 11, 2016, 7:21 AM
    • Eros International (NYSE:EROS): FQ2 EPS of -$0.06 misses by $0.12.
    • Revenue of $71.88M (-27.2% Y/Y) beats by $12.15M.
    • Press Release
    Nov. 11, 2016, 7:21 AM
  • Nov. 10, 2016, 5:30 PM