{"id":31751,"date":"2023-11-03T02:01:54","date_gmt":"2023-11-03T02:01:54","guid":{"rendered":"https:\/\/microloannexus.com\/news\/roku-stock-soars-30-on-third-quarter-revenue-beat-solid-outlook\/"},"modified":"2023-11-03T02:01:57","modified_gmt":"2023-11-03T02:01:57","slug":"roku-stock-soars-30-on-third-quarter-revenue-beat-solid-outlook","status":"publish","type":"post","link":"https:\/\/microloannexus.com\/?p=31751","title":{"rendered":"Roku stock soars 30% on third-quarter revenue beat, solid outlook"},"content":{"rendered":"<div id=\"RegularArticle-ArticleBody-6\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-6-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"><\/span><\/p>\n<div class=\"group\">\n<p>Shares of <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\">Roku<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> soared Thursday, a day after the company reported better-than-expected revenue for the third quarter.<\/p>\n<p>Here&#8217;s how Roku performed for the quarter ending Sept. 30, compared to analysts&#8217; estimates from LSEG, formerly known as Refinitiv:<\/p>\n<ul>\n<li><strong>Loss per share<\/strong>: $2.33 vs. $2.12 expected<\/li>\n<li><strong>Revenue<\/strong>: $912 million vs. $855.2 million expected<\/li>\n<\/ul>\n<p>After the bell Wednesday, Roku reported a net loss of $330.1 million for the third quarter, or $2.33 per share, nearly triple the loss of $122.2 million, or 88 cents per share, which is what the company reported in the year-ago quarter.<\/p>\n<p>But revenue was up 20% year over year, the company reported, largely driven by &#8220;strong performance in content distribution and video advertising, along with unit sales of Roku-branded TVs, which launched in March 2023,&#8221; Roku said in a shareholder letter.<\/p>\n<p>Roku-branded smart TV&#8217;s come pre-installed with the Roku interface users would experience on an external plug-in Roku Streaming Player. The smart TVs were first made available at Best Buy earlier this year and drove a device segment revenue increase of 33% from the year-ago quarter, the company said during its earnings call Wednesday.<\/p>\n<p>&#8220;Branded TVs also drove a higher portion of net adds in active accounts than the streaming players in international markets,&#8221; Roku Devices President Mustafa Ozgen said during Wednesday&#8217;s earnings call.<\/p>\n<p>The company said it fared better during the quarter with advertisements, weathering an industry-wide ad slowdown.<\/p>\n<p>&#8220;We had a solid rebound in video ads in the third quarter,&#8221; Roku Media President Charlie Collier said during the earnings call. &#8220;We expect year-over-year growth in the fourth quarter to be similar, but we remain cautious about the ad market recovery going forward.&#8221;<\/p>\n<p>Active accounts also beat the Street&#8217;s estimates, coming in at 75.8 million for the quarter, compared to StreetAccount estimates of 75.33 million. That&#8217;s a net increase of 2.3 million active accounts from the previous quarter.<\/p>\n<p>For the fourth quarter, Roku expects revenue of roughly $955 million, topping the $952 million expected by Wall Street, according to LSEG.<\/p>\n<p>In September, Roku said it was laying off 200 employees in a bid to reduce the company&#8217;s year-over-year operating expense growth rate. The move followed rounds of layoffs earlier this year in March and November 2022. The company also committed to various cost-cutting measures including consolidating office space and slowing hiring, CNBC reported at the time.<\/p>\n<p><strong>Don&#8217;t miss these stories from CNBC PRO:<\/strong><\/p>\n<\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.cnbc.com\/2023\/11\/01\/roku-q3-2023-earnings.html\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shares of Roku soared Thursday, a day after the company reported better-than-expected revenue for the third quarter. Here&#8217;s how Roku performed for the quarter ending Sept. 30, compared to analysts&#8217; estimates from LSEG, formerly known as Refinitiv: Loss per share: $2.33 vs. $2.12 expected Revenue: $912 million vs. $855.2 million expected After the bell Wednesday,<\/p>\n","protected":false},"author":1,"featured_media":31752,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[],"class_list":{"0":"post-31751","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.12 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Roku stock soars 30% on third-quarter revenue beat, solid outlook | Micro Loan Nexus<\/title>\n<meta name=\"description\" content=\"Shares of Roku soared Thursday, a day after the company reported better-than-expected revenue for the third 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