Roku (ROKU) Stock Soars on Q2 Earnings Beat
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.
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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.
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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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