Roku Inc. ROKU, + 5.83% shares fell more than 10% in after-sales on Wednesday despite a quarterly earnings report that…
ROKU, + 5.83%
shares fell more than 10% in after-sales on Wednesday despite a quarterly earnings report that exceeded expectations when the company’s profit forecast for the quarter ended. Roku reported a loss of $ 9.5 million, or 9 cents per share, of a sale of $ 173.4 million, a loss of $ 8.79 per share a year ago of $ 124.8 million. Analysts averaged a loss of 12 cents per share on a sale of $ 170.4 million, according to FactSet. For the holiday season, Roku calculated sales in line with expectations, but predicts the bottom line in a range from a loss of $ 4 million to a profit of $ 3 million. Analysts on average expect the fourth quarter to average $ 7 million according to FactSet; Roku reported a net income of $ 6.9 million in the fourth quarter of 201
7. The Roku shares fell after the report was released in expanded trading Wednesday. They closed with a 5.8% gain, which increased late in the session following a CNBC report, Roku said to talk with media companies to incorporate their offerings into the Rokus streaming media channel, which Wednesday’s letter to shareholders did not explicitly confirm . The stock has risen 13.7% so far this year, as the S & P 500 index
SPX, + 2.12%
has won 3.1%.
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