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ROKU Gears Up to Report Q1 Earnings: What's in the Cards?
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Roku (ROKU - Free Report) is set to report first-quarter 2023 results on Apr 26.
For first-quarter 2023, Roku expects total net revenues to be $700 million. The consensus mark for revenues is pegged at $711.5 million, indicating 3.02% decline from the year-ago quarter’s reported figure.
For the quarter to be reported, the Zacks Consensus Estimate for loss is constant at $1.48 per share in the past 30 days. The figure suggests a 678.9% decline from the year-ago quarter’s reported figure.
The company’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters while missing twice, the average earnings surprise being 5.15%.
Let’s see how things have shaped up for this announcement.
Roku’s first-quarter performance is expected to have benefited from the growing popularity of The Roku Channel, expanding TV brands & retailer partner base and third-party streaming channels.
In the to-be-reported quarter, Roku announced the expansion of Jellysmack into the free, ad-supported TV segment through a new partnership with The Roku Channel. The partnership brought two new linear channels, Hello Inspo and Mysteria, to The Roku Channel's Live TV Guide. The channels feature packaged series from Jellysmack's top creator partners.
The Roku Channel and Pocket.watch announced a new deal which brought four new pocket.watch content specials and one new series to The Roku Channel. Upcoming titles to exclusively stream on The Roku Channel include Toys & Colors Kaleidoscope City Special, Elemon Special, Love, Diana Special and Jason Vlogs and the Do Crew.
Active Account net adds were 4.6 million in fourth-quarter and 9.9 million in 2022, ending the year with 70 million active accounts globally, driven primarily by the Roku TV program in the United States and international markets.
The Zacks Consensus Estimate for first-quarter 2023 active accounts is pegged at $69 million, indicating an increase of 13.1% from the year-ago quarter’s reported figure.
In fourth-quarter 2022, Roku users streamed 23.9 billion hours, up 23% year over year. The consensus mark for streaming hours is pegged at 23.36 billion, suggesting an increase of 11.8% from the year-ago quarter’s reported figure.
In the first quarter, Roku launched its new in-house branded televisions as well as platform-wide updates to its operating system that brings in new channel partners and features. The company's new Roku Select and Plus Series TVs are available exclusively at Best Buy (BBY - Free Report) in stores and online. These TVs come in 11 models ranging from 24-75 inches screens.
There are 11 Roku TVs in total, spanning two different lineups, with prices ranging from about $150 to $1,200, which is expected to have aided TV sales thereby boosting top-line growth in the to-be-reported quarter.
However, Roku has been facing challenges from the macroeconomic environment, such as inflation and recessionary fear. The supply chain issues are causing disruptions in its player unit sales in terms of shipping delays, product availability issues and product price increases. Both consumers and advertisers have significantly curtailed spending, which is expected to have impacted the company’s earnings for the quarter
What Our Model Indicates
According to the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Roku has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Per our model, Skyworks Solutions (SWKS - Free Report) and Garmin (GRMN - Free Report) have the right combination of elements to post an earnings beat in the upcoming releases.
Skyworks Solutions carries a Zacks Rank #3 and has an Earnings ESP of +0.15% at present. The company is anticipated to report second-quarter fiscal 2023 results on May 2. Its earnings beat the Zacks Consensus Estimate in the preceding four quarters, with the average surprise being 1.9%. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for SWKS’ second-quarter earnings is pegged at $2.02 per share, implying a year-over-year decline of 23.2%. It is estimated to report revenues of $1.15 billion, which suggests a decrease of approximately 14% from the year-ago quarter.
Garmin is slated to report first-quarter 2023 results on May 3. The company has a Zacks Rank #3 and an Earnings ESP of +11.00% at present. Garmin’s earnings beat the Zacks Consensus Estimate thrice in the trailing four quarters while missing the same on one occasion, the average surprise being a negative 7.3%.
The Zacks Consensus Estimate for GRMN’s first-quarter earnings is pegged at $1.00 per share, suggesting a decline of 9.9% from the year-ago quarter’s earnings of $1.11. Garmin’s quarterly revenues are estimated to decline 8.2% year over year to $1.08 billion.
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ROKU Gears Up to Report Q1 Earnings: What's in the Cards?
Roku (ROKU - Free Report) is set to report first-quarter 2023 results on Apr 26.
For first-quarter 2023, Roku expects total net revenues to be $700 million. The consensus mark for revenues is pegged at $711.5 million, indicating 3.02% decline from the year-ago quarter’s reported figure.
For the quarter to be reported, the Zacks Consensus Estimate for loss is constant at $1.48 per share in the past 30 days. The figure suggests a 678.9% decline from the year-ago quarter’s reported figure.
The company’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters while missing twice, the average earnings surprise being 5.15%.
Let’s see how things have shaped up for this announcement.
Roku, Inc. Price and Consensus
Roku, Inc. price-consensus-chart | Roku, Inc. Quote
Factors to Consider
Roku’s first-quarter performance is expected to have benefited from the growing popularity of The Roku Channel, expanding TV brands & retailer partner base and third-party streaming channels.
In the to-be-reported quarter, Roku announced the expansion of Jellysmack into the free, ad-supported TV segment through a new partnership with The Roku Channel. The partnership brought two new linear channels, Hello Inspo and Mysteria, to The Roku Channel's Live TV Guide. The channels feature packaged series from Jellysmack's top creator partners.
The Roku Channel and Pocket.watch announced a new deal which brought four new pocket.watch content specials and one new series to The Roku Channel. Upcoming titles to exclusively stream on The Roku Channel include Toys & Colors Kaleidoscope City Special, Elemon Special, Love, Diana Special and Jason Vlogs and the Do Crew.
Active Account net adds were 4.6 million in fourth-quarter and 9.9 million in 2022, ending the year with 70 million active accounts globally, driven primarily by the Roku TV program in the United States and international markets.
The Zacks Consensus Estimate for first-quarter 2023 active accounts is pegged at $69 million, indicating an increase of 13.1% from the year-ago quarter’s reported figure.
In fourth-quarter 2022, Roku users streamed 23.9 billion hours, up 23% year over year. The consensus mark for streaming hours is pegged at 23.36 billion, suggesting an increase of 11.8% from the year-ago quarter’s reported figure.
In the first quarter, Roku launched its new in-house branded televisions as well as platform-wide updates to its operating system that brings in new channel partners and features. The company's new Roku Select and Plus Series TVs are available exclusively at Best Buy (BBY - Free Report) in stores and online. These TVs come in 11 models ranging from 24-75 inches screens.
There are 11 Roku TVs in total, spanning two different lineups, with prices ranging from about $150 to $1,200, which is expected to have aided TV sales thereby boosting top-line growth in the to-be-reported quarter.
However, Roku has been facing challenges from the macroeconomic environment, such as inflation and recessionary fear. The supply chain issues are causing disruptions in its player unit sales in terms of shipping delays, product availability issues and product price increases. Both consumers and advertisers have significantly curtailed spending, which is expected to have impacted the company’s earnings for the quarter
What Our Model Indicates
According to the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Roku has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Per our model, Skyworks Solutions (SWKS - Free Report) and Garmin (GRMN - Free Report) have the right combination of elements to post an earnings beat in the upcoming releases.
Skyworks Solutions carries a Zacks Rank #3 and has an Earnings ESP of +0.15% at present. The company is anticipated to report second-quarter fiscal 2023 results on May 2. Its earnings beat the Zacks Consensus Estimate in the preceding four quarters, with the average surprise being 1.9%. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for SWKS’ second-quarter earnings is pegged at $2.02 per share, implying a year-over-year decline of 23.2%. It is estimated to report revenues of $1.15 billion, which suggests a decrease of approximately 14% from the year-ago quarter.
Garmin is slated to report first-quarter 2023 results on May 3. The company has a Zacks Rank #3 and an Earnings ESP of +11.00% at present. Garmin’s earnings beat the Zacks Consensus Estimate thrice in the trailing four quarters while missing the same on one occasion, the average surprise being a negative 7.3%.
The Zacks Consensus Estimate for GRMN’s first-quarter earnings is pegged at $1.00 per share, suggesting a decline of 9.9% from the year-ago quarter’s earnings of $1.11. Garmin’s quarterly revenues are estimated to decline 8.2% year over year to $1.08 billion.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.