Roku stock soars after earnings as consumers stream more than expected

Consumers streamed more content than expected through Roku Inc.’s platform in the fourth quarter, helping to drive a sizable revenue beat despite macroeconomic pressures.

The company posted a holiday-quarter net loss of $237 million, or $1.70 a share, whereas it generated net income of $23.7 million, or 17 a share, in the year-prior quarter. Analysts tracked by FactSet were expecting a $1.72 loss per share. Streaming hours reached 23.9 billion from 21.9 billion in the third quarter and beat the FactSet consensus, which was for 23.2 billion.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Household budgets are shredded: These stocks will benefit as consumers trade down to store brandsConsumers have been slow to change their behavior, but this year, trading down is expected to accelerate, said Truist analyst Bill Chappell.
Source: CNBC - 🏆 12. / 72 Read more »

Kia or Hyundai stolen? Watch out for scammers claiming they can find your car, Better Business Bureau warnsThe Better Business Bureau of Greater Cleveland has put out a warning after a local woman was scammed.
Source: clevelanddotcom - 🏆 301. / 63 Read more »