Roku's revenue increased by 20% in the third-quarter compared to last year, and exceeded Wall Street's expectations.
Active accounts were also up, with 75.8 millions dollars for the quarter.
After-hours trading on the stock market soared by 17% after the company announced better-than expected revenue for the third-quarter.
Here is how Roku did for the quarter ending Sept. 30 compared to analyst estimates from LSEG (formerly Refinitiv):
Loss per Share
Expected: $2.12 vs. $2.33
: $912 million vs $855.2 million expected
Roku posted a third-quarter net loss of $330.1 millions, or $2.33 a share. This is nearly triple what the company lost in the previous quarter (122.2 million or 88 cents a share).
Roku reported that revenue had increased by 20% over the previous year. This was largely due to "strong performance" in video advertising and content distribution, as well as unit sales of Roku TVs launched in March 2023.
In a letter to shareholders, the following is said
Active accounts beat StreetAccount's estimates by 75.8 millions for the third quarter. StreetAccount had estimated 75.33million.
According to LSEG, Roku is expecting revenue in the fourth quarter of $955 million. This is higher than the $952 millions Wall Street expected.
The story is still developing. Please check back often for updates.