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Roku stock soars after earnings as consumers stream more than expected

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Consumers streamed more content than expected through Roku's platform in the fourth quarter, helping to drive a sizable revenue beat despite economic pressure.

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.

 

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