Global Eagle Entertainment Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, the company reported revenue of $159,598,000 as compared to $156,764,000 or the same period last year. This increase in revenue was primarily driven by growth in service revenue in company's Connectivity segment due to new aircraft, vessel and site additions. Loss from operations was $119,793,000 as compared to $87,683,000 for the same period last year. Loss before income taxes was $150,285,000 as compared to $90,458,000 for the same period last year. Net loss was $134,405,000 as compared to $91,714,000 for the same period last year. Basic and diluted loss per share was $1.51 as compared to $1.07 for the same period last year. Adjusted EBITDA was $19,720,000 as compared to $19,358,000 for the same period last year.

For the year, the company reported revenue of $619,469,000 as compared to $529,755,000 or the same period last year. The increase over the prior-year period was driven by the acquisition of Emerging Markets Communications (EMC) in late July 2016, which generated revenue for the entire 2017 year (versus only a partial 2016 year), and growth in service revenue in Connectivity segment due to aircraft, vessel and site additions, which was partially offset by a revenue decline in Media & Content segment. Loss from operations was $279,808,000 as compared to $162,663,000 for the same period last year. Loss before income taxes was $362,001,000 as compared to $157,843,000 for the same period last year. Net loss was $357,114,000 as compared to $112,932,000 for the same period last year. Basic and diluted loss per share was $4.07 as compared to $1.39 for the same period last year. Adjusted EBITDA was $68,020,000 as compared to $57,543,000 for the same period last year. The company incurred net loss, primarily due to non-cash impairment charges. Net loss in 2017 also increased versus 2016 due to higher full-year interest expense in 2017 and higher audit-related and professional fees incurred in 2017 related to company's delayed 2016 audit. The increase in Adjusted EBITDA was driven by the acquisition of EMC in late July 2016, which generated Adjusted EBITDA for the entire 2017 year, and growth in service revenue in Connectivity segment due to aircraft, vessel and site additions, which was partially offset by a revenue decline in Media & Content segment.

For the fourth quarter, the company reported goodwill impairment of $89,000,000 as compared to $64,000,000 for the same period last year.

The company sees compelling opportunities to further integrate prior acquisitions, which it believes will continue to lower its cost structure. In 2018, the company expects these improvements to lead to accelerating organic revenue growth and strong adjusted EBITDA growth, along with an improvement in cash-flow generation.