Markets Insider
- Roku reported first-quarter earnings that topped Wall Street expectations.
- The streaming-device maker said it lost $0.07 per share on revenue of $136.6 million.
- It also raised its full-year revenue guidance.
- Follow Roku’s stock price in real-time here.
Roku reported first-quarter earnings Wednesday that topped Wall Street’s expectations. Here are the key figures:
- Earnings per share (adjusted): -$0.07 versus an expected -$0.15
- Revenue: $136.6 million versus an expected $127.43 million
- Active accounts: 20.8 million
Shares rose about 2% immediately following earnings. Options contracts traded Wednesday had implied a 22% move for the stock.
“The secular shift from legacy TV distribution to streaming continues unabated,” the company said in a press release. “Our purpose-built TV operating system and advertising platform continue to lead the market. Moreover, our advertising and content partners are benefiting from our increasing scale. Nearly half of our roughly 21 million active users have cut the cord or have never had a traditional pay TV subscription, which means that they simply cannot be reached through linear TV. “
The company also raised its full-year guidance for 2018 to between $685 million and $705 million and said it expects to be at a near “break-even” financial situation by the end of the year.
Shares rose more than 8% in regular trading Wednesday ahead of the earnings report.
Historically, the stock has moved a full 32% following quarterly earnings.
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