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Roku Posts Lower-Than-Expected Q1 Loss, Platform Revenue Up 106%
Roku (ROKU - Free Report) just released its first quarter financial results, posting an adjusted loss of $0.07 per share and revenues of $136.58 million.
Roku is currently a Zacks Rank #3 (Hold), which is subject to change based on today’s results. Shares of Roku have plummeted over 23% over the last 12 weeks. The newly public streaming platform company did see its stock price surge 8.94% on Wednesday to hit $36.08 per share prior to the release of its quarterly earnings results.
Roku stock is currently up 1.33% to $36.56 per share in after-hours trading shortly after its earnings report was released.
ROKU:
Beat earnings estimates. The company posted an adjusted loss of $0.07 per share, crushing the Zacks Consensus Estimate that called for a loss of $0.16 per share.
Beat revenue estimates. The company saw revenue figures of $136.58 million, topping our consensus estimate of $128.41 million.
Roku, which allows users to access their Netflix (NFLX - Free Report) , Hulu, ESPN+ (DIS - Free Report) , and many other streaming accounts, saw its revenues climbed from $100.09 million in the year-ago period. Meanwhile, Roku’s platform revenues skyrocketed 106% to $75.1 million
Roku’s active accounts surged 47% to close the quarter at 20.8 million. The company’s average revenue per user also soared 50% to $15.07.
Looking ahead, the company expects to post second quarter revenue between $135 and $145 million, which falls somewhat in line with our current consensus estimate of $135.69 million.
Here’s a graph that looks at ROKU’s Price, Consensus and EPS Surprise history:
Roku, Inc. Price, Consensus and EPS Surprise
Roku, Inc. Price, Consensus and EPS Surprise | Roku, Inc. Quote
Check back later for our full analysis on ROKU’s earnings report!
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