Earnings Results: Roku stock rallies further after upbeat forecast
Roku Inc. shares surged 8% in after-hours trading Thursday after the company topped revenue expectations and gave an upbeat top-line 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.
Analysts surveyed by FactSet were modeling a loss per share of 13 cents on a GAAP basis.
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.
Shares gained about 12% this week heading into Roku’s report, while the S&P 500
was up 1.5%. The stock has been a big winner over the past year, rising more than 170%, compared with a 23% gain for the S&P in that span.