News

Global Eagle Entertainment reports fourth-quarter loss of $4.8 million

LOS ANGELES, Calif. – LOS ANGELES (AP) _ Global Eagle Entertainment Inc. (ENT) on Thursday reported a loss of $4.8 million in its fourth quarter.

On a per-share basis, the Los Angeles-based company said it had a loss of 6 cents. Earnings, adjusted for costs related to mergers and acquisitions and non-recurring costs, were 2 cents per share.

The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share.

The in-flight entertainment services company posted revenue of $113.2 million in the period.

For the year, the company reported that its loss narrowed to $2.1 million, or 3 cents per share. Revenue was reported as $426 million.

Global Eagle Entertainment expects full-year revenue in the range of $470 million to $490 million.

Global Eagle Entertainment shares have decreased 2.5 per cent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $9.62, a decline of 27 per cent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ENT at http://www.zacks.com/ap/ENT

_____

Keywords: Global Eagle Entertainment, Earnings Report