blew past estimates, albeit with an operating loss of $126 million last quarter, but on revenue that jumped 11% to $847 million. Advertising-driven Platform sales beat forecasts, up 11% at $744 million despite a difficult market.
A few ad categories are picking up, but spending in the media and entertainment category, already challenged industry-wide, is expected to be further pressured by limited fall release schedules, the company said in its letter to shareholders, in a nod to the ongoing writers and actors strikes. Device revenue rose to $103 million from $95 million. The company is now selling its own line of branded smart TVs at Best Buy.
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Source: Variety - 🏆 108. / 63 Read more »