Roku revenue grew 20% year over year in the third quarter and beat Wall Street expectations.
Follow your favorite stocksA video sign displays the logo for Roku Inc, a Fox-backed video streaming firm, in Times Square after the company's IPO at the Nasdaq Market in New York, September 28, 2017.soared 17% in after-hours trading on Wednesday after the company 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 known as Refinitiv:Roku reported a net loss 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 company reported in the year-ago quarter.
But revenue was up 20% year over year, the company reported, largely driven by "strong performance in content distribution and video advertising, along with unit sales of Roku-branded TVs, which launched in March 2023," RokuActive 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, according to LSEG.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Roku shares soar 15% on third-quarter revenue beatRoku revenue grew 20% year over year in the third quarter and beat Wall Street expectations.
Read more »
Here are Wall Street’s favorite stocks into November — all expected to rise more than 20%CNBC Pro screened for stocks that are holding up well, have a consensus rating of buy and are estimated to have at least 20% upside.
Read more »
Wall Street Cheers Roku Outlook For Full-Year ProfitShares in Roku surged almost 10% in after-hours trading after the company affirmed its outlook for “positive full-year EBITDA,” meaning a return to profitability. The streaming giant po…
Read more »
Roku Beats Wall Street Revenue Expectations, Sees Improvement in Ad BusinessThe company cited “diversifying demand sources of advertisers” on the platform, as well as expanding the number of partnerships for improved ad revenue numbers.
Read more »
Pfizer Stock Dips After Company’s Earnings Miss Sales Estimates. Covid-19 Revenue Drops.Pfizer reports a third-quarter loss of 17 cents a share on revenue of $13.2 billion.
Read more »