Roku (NASDAQ:ROKU) stock was soaring on Wednesday late in the day as the company reported its latest quarterly earnings results, which were ahead of what analysts were calling for.
The online streaming device maker said that for its second quarter of fiscal 2018, it brought in net income of roughly $526,000, or 0 cents per share. The figure was much stronger than the losses from the year-ago quarter of $15.5 million, or $3.18 per share.
Analysts were calling for Roku to bring in net income at a loss of 15 cents per share, according to data compiled by FactSet. The company also brought in strong revenue figures of $156.8 million, ahead of the $99.6 million that it amassed during the year-ago quarter.
The Wall Street consensus estimate was projecting the company to rake in roughly $141.1 million in sales. For its third quarter of the fiscal year, Roku is expecting to bring in losses in the range of $13 million to $18 million on sales of $164 million to $172 million.
Analysts are forecasting the company to bring in net losses of 12 cents per share, while revenue is slated to be around $166.2 million. Roku also said it is adding an ad-supported free Roku channel online for desktops and mobile devices.
ROKU stock soared after hours about 8.7% as the company reported a very strong quarterly earnings showing, which included a profit and revenue increase. Shares were down about 0.4% during regular trading hours Wednesday.
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