A video sign displays the brand for Roku Inc, a Fox-backed video streaming firm, in Times Square after the corporate’s IPO on the Nasdaq Market in Latest York, September 28, 2017.
Brendan McDermid | Reuters
Shares of Roku soared 17% in after-hours trading on Wednesday after the corporate reported better-than-expected revenue for the third quarter.
Here’s how Roku performed for the quarter ended Sept. 30, compared with analyst estimates from LSEG, formerly generally known as Refinitiv:
- Loss per share: $2.33 vs. $2.12 expected
- Revenue: $912 million vs $855.2 million expected
Roku reported a net lack of $330.1 million for the third quarter, or $2.33 per share, nearly triple the $122.2 million, or 88 cents per share, loss the corporate reported within the year-ago quarter.
But revenue was up 20% 12 months over 12 months, the corporate reported, largely driven by “strong performance in content distribution and video promoting, together with unit sales of Roku-branded TVs, which launched in March 2023,” Roku said in a shareholder letter.
Energetic accounts also beat the Street, coming in at 75.8 million for the quarter, compared with StreetAccount estimates of 75.33 million.
For the fourth quarter, Roku expects revenue of roughly $955 million, topping the $952 million expected by Wall Street, in accordance with LSEG.
This story is developing. Please check back for updates.