Roku stock jumps on upbeat forecast
The streaming company posted a net loss of $15.7 million, or 13 cents a share, compared to positive net income of $6.8 million, or 5 cents a share, in the year-prior quarter.See also: Apple TV+ needed two months to achieve what Disney+ did in a day, says analyst
Roku’s ROKU, +0.55% revenue for the quarter jumped to $411.2 million from $276 million, whereas analysts were expecting $392 million. Revenue consisted of $151.6 million in player revenue and $259.6 million in platform revenue, which includes advertising benefits and cuts of streaming subscription fees.
The company had 36.9 million active accounts, up 4.6 million from last quarter. Streaming hours grew to 11.7 billion, up 60% from a year earlier.For the first quarter, Roku expects revenue of $300 million to $310 million, whereas the FactSet consensus calls for $300 million. Looking at the full year, Roku calls for $1.58 billion to $1.62 billion in revenue. Analysts surveyed by FactSet were modeling $1.56 billion.
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