Roku Earnings: ROKU Stock Soars on Stronger-Than-Expected Q1 EPS
Roku (NASDAQ:ROKU) reported its quarterly earnings figures late today, bringing in a loss and sales that were better than what analysts called for, playing a role in helping ROKU stock soar after hours.
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The Los Gatos, Calif.-based maker of entertainment streaming devices said that for its first quarter of its fiscal 2019, it brought in a loss of 9 cents per share, which is narrower than the Wall Street consensus estimate called for, which was for a loss of roughly 26 cents per share.
Roku added that its revenue for the period tallied up to $207 million, which is stronger than the $190 million that analysts called for. The brand also saw its active user accounts increase roughly 40% when compared to the same period in its fiscal 2018.
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The company’s total streaming hours surged by 74% to 8.9 million hours during the three-month period. Roku added that its ad sales business also brought in revenue of $134 million, which marked a gain of 79% when compared to the year-ago quarter, while device sales popped by roughly 18% year-over-year.
The business had previously said that it saw its revenue for the entirety of its fiscal 2019 to come in at around $1 billion.
ROKU stock is up about 7.7% after the bell on Wednesday afternoon following the company’s better-than-expected results during the period. Shares had been gaining about 0.8% during regular trading hours in anticipation of Roku’s results.
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