Global Eagle Entertainment Loss Narrows; Stock Up 8%

(RTTNews) - Global Eagle Entertainment Inc (ENT) Friday reported first-quarter net loss of $26 million or $0.47 per share compared with a loss of $27 million or $0.61 per share last year.

Revenues for the quarter were up 55% at $86 million compared with $42.5 million in the prior year.

Operating expenses for the quarter climbed to $95.4 million from $64.7 million a year ago. Further, the quarter included $15.5 million of costs related to change in fair value of financial instruments, compared with $4.6 million a year ago.

Looking ahead, the company expects growth through the remainder of 2014.

Los Angeles, California-based Global Eagle Entertainment provides in-flight video content, e-commerce, and information services for the airline industry.