Global Eagle Reports Financial Results for the First Quarter of 2018
GLOBAL EAGLE ENTERTAINMENT INC (ENT)
Last global eagle entertainment inc earnings: 3/19 07:00 am
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Source: GlobeNewswire
Reiterates 2018 Adjusted EBITDA growth targetStrong service revenue growth in Connectivity segmentRepaid full balance of revolving credit facility in the second quarter of 2018 LOS ANGELES, May 15, 2018 (GLOBE NEWSWIRE) -- Global Eagle Entertainment Inc. (Nasdaq:ENT) (“Global Eagle,” the “Company” or “we”), a leading provider of media, content, connectivity and data analytics to markets across air, sea and land, today announced financial results for the first quarter ended March 31, 2018. For the first quarter of 2018, Global Eagle recorded revenue of $156 million; incurred a net loss of $38.3 million; and generated Adjusted EBITDA* of $17.3 million. “During the first quarter of 2018, we focused on our objectives of operating a healthy core business, driving profitable growth and aggressively transforming our business,” commented Josh Marks, CEO of Global Eagle. “We continue to expect a minimum of 25% Adjusted EBITDA growth in 2018 versus 2017. Looking forward to
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