Roku Stock Rises on First Earnings Report

Roku Stock Rises on First Earnings Report

Roku Stock Rises on First Earnings Report

Revenue jumped 40% to $124.8 million, gross profit almost doubled to $49.9 million, and other key operating metrics like active accounts and streaming hours marched higher.

Roku's shares were up 46% at US$27.52 in early deals.

Several other equities analysts have also recently issued reports on the company.

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Roku (NASDAQ:ROKU) last issued its earnings results on Wednesday, November 8th. Roku has an average rating of Hold and a consensus target price of $26.20.

10 cents loss, excluding items, vs. loss of $1.37 expected by a Thomson Reuters consensus estimate.

Roku lost $7.9 million during the quarter, less than the $16.7 million in losses that analysts were anticipating. Roku has a 1-year low of $15.75 and a 1-year high of $29.80.

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COPYRIGHT VIOLATION NOTICE: "Roku, Inc". If you are reading this news story on another domain, it was illegally copied and republished in violation of United States and worldwide trademark & copyright law. "(ROKU) Research Coverage Started at Citigroup Inc." was first reported by TrueBlueTribune and is the property of of TrueBlueTribune. The original version of this piece of content can be accessed at https://www.truebluetribune.com/2017/11/10/citigroup-inc-initiates-coverage-on-roku-inc-roku.html. The shares were sold at an average price of $14.00, for a total value of $96,600,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. It also gets revenue from selling advertising on its home screen and takes a share of pay-per-view movie sales and subscriptions sold through its platform.

Roku reported it had 16.7 million active accounts as of September 30, an 11 percent increase from the 15.1 million in the previous quarter.

With rapidly rising sales in its more profitable platform segment, Roku's adjusted loss per share narrowed from $0.17 in the year-ago quarter to $0.10 in Q3. Finally, Sei Investments Co. purchased a new position in shares of Roku in the third quarter valued at $544,000. LLC purchased a new position in shares of Roku in the third quarter valued at $11,920,000. Institutional investors and hedge funds own 0.17% of the company's stock.

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Roku, known for its devices that connect to televisions and allow people to stream video from Netflix, YouTube and other apps, for a long time was primarily in the product business. Its Roku streaming players and the Roku Streaming Stick are sold through retailers in the United States, Canada, the United Kingdom, the Republic of Ireland, Mexico and France.

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