Roku Earnings: ROKU Stock Rebounds as Q4 Earnings Top Estimates
Roku (NASDAQ:ROKU) reported its latest quarterly earnings figures late in the day yesterday, helping the company’s shares pop more than 5% late in the day thanks to a strong revenue when compared to its year-ago results.
Source: Roku
The digital media player manufacturer, founded in 2002 by CEO Anthony Wood, announced that it brought in adjusted earnings of 5 cents per share for its fourth quarter of its fiscal 2018. The amount was stronger than the 3 cents per share that analysts were calling for, but it was below the 6 cents per share it posted during the year-ago quarter.
Roku added that it amassed revenue of $275.7 million during the period, which was about 46.4% higher than the $188.3 million it garnered during its fourth quarter of 2017. The Wall Street guidance was calling for the Los Gatos, Ca.-based company to bring in sales of $275.7 million.
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“Roku is positioned well as TV consumption continues to move towards streaming devices,” says Ted Murphy, CEO of IZEA and Roku shareholder. “Their play to get more adoption of their platform will continue to be robust. The platform built into the TVs they have a variety of monetization options. I think they have plenty of room to grow.”
ROKU stock was sliding more than 4% during regular trading hours as the company prepared itself to report for its latest period. The earnings increase and bet played a key role in lifting shares close to 5.4% after the bell Thursday.
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