Roku (ROKU - Free Report) reported third-quarter 2019 loss of 22 cents per share that was narrower than the Zacks Consensus Estimate of a loss of 28 cents. The company had reported loss of 9 cents per share in the year-ago quarter.
Revenues soared 50.5% from the year-ago quarter to $260.9 million and comfortably beat the consensus mark of $258 million.
Active accounts surged 36% year over year to 32.3 million. Streaming hours increased 68% year over year to 10.3 billion. Moreover, average revenue per user (ARPU) increased 30% to $22.58 (on a trailing 12-month basis).
Top-Line Details
Platform revenues (68.7% of revenues) surged 79.2% year over year to $179.3 million.
Robust growth in advertising continued as monetized video ad impressions once again more than doubled year over year, the key catalyst in boosting top-line growth. The Roku Channel contributed to this growth as ad impressions within the channel grew faster than ad impressions in the third quarter.
In August, Roku launched Kids & Family within The Roku Channel for families to find a wide selection of free and Premium Subscription content at one, easy-to-access destination. The Roku Channel’s new parental control features give parents control over what their kids can playback within the channel.
Moreover, the company also partnered with Lego Systems as a sponsor on The Roku Channel Kids & Family home screen, allowing the brand to gain visibility while offering viewers free access to a collection of movies. Such sponsorships boosted viewer engagement in the third quarter.
Roku, Inc. Price, Consensus and EPS Surprise
Zacks Names "Single Best Pick to Double"
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Roku (ROKU - Free Report) reported third-quarter 2019 loss of 22 cents per share that was narrower than the Zacks Consensus Estimate of a loss of 28 cents. The company had reported loss of 9 cents per share in the year-ago quarter.
Revenues soared 50.5% from the year-ago quarter to $260.9 million and comfortably beat the consensus mark of $258 million.
Active accounts surged 36% year over year to 32.3 million. Streaming hours increased 68% year over year to 10.3 billion. Moreover, average revenue per user (ARPU) increased 30% to $22.58 (on a trailing 12-month basis).
Top-Line Details
Platform revenues (68.7% of revenues) surged 79.2% year over year to $179.3 million.
Robust growth in advertising continued as monetized video ad impressions once again more than doubled year over year, the key catalyst in boosting top-line growth. The Roku Channel contributed to this growth as ad impressions within the channel grew faster than ad impressions in the third quarter.
In August, Roku launched Kids & Family within The Roku Channel for families to find a wide selection of free and Premium Subscription content at one, easy-to-access destination. The Roku Channel’s new parental control features give parents control over what their kids can playback within the channel.
Moreover, the company also partnered with Lego Systems as a sponsor on The Roku Channel Kids & Family home screen, allowing the brand to gain visibility while offering viewers free access to a collection of movies. Such sponsorships boosted viewer engagement in the third quarter.
Roku, Inc. Price, Consensus and EPS Surprise
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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