Stocks soar as Roku beats expectations in Q3

Roku’s first-ever earnings report was very solid, surpassing analysts’ expectations in every area. The streaming device-maker generated $123.8 million in revenue during Q3, as compared to $89 million in the third quarter of 2016. Wall Street had predicted $110 million in third quarter revenue. The company wasn’t quite profitable, but its net losses amounted to only $7.9 million, down from $12.7 million during the same period last year. Analysts had expected net losses of $12.7 million, matching those of last year’s third quarter. On other notable tidbit: While Roku is best known for its streaming devices, $57.5 million of its Q3 revenue came from its advertising and licensing business. The other $67.3 million came from hardware sales. (Bottom line: Roku may have a more multi-layered and versatile business model than many people realize.) Roku’s stock took big leap after the report, rising by over 26% in after-hours trading.

Related Stories

Cynopsis at Cannes Lions: Day Four

Cynopsis at Cannes Lions: Day Four (Facebook)

A CYNOPSIS MESSAGE FROM CADENT CADENT IS ONE FOR TV We unified all of TV-linear, advanced, and fully addressable inventory-in a single platform to simplify buying and selling TV ads. 65MM Addressable Households, 100+ Data Partners, 200+ MVPD and Broadcast Station Group Relationships We manage the complexities of the TV landscape. You reap the benefits. […]

Jason Ritter lands key role in Netflix sci-fi family drama Raising Dio

Jason Ritter lands key role in Netflix sci-fi family drama Raising Dion.

Jason Ritter (Kevin (Probably) Saves The World) nabbed a key role in Netflix’s straight-to-series sci-fi family drama Raising Dion… Serinda Swan (Inhumans) landed a starring role in CBC’s upcoming drama Coroner… Ben Daniels is joining season 3 of Netflix’s The Crown, playing Princess Margaret’s husband, Antony Armstrong-Jones… Molly McCook (The Ranch) and Josh Pence (La […]

PGA TOUR swings with Facebook Live

PGA TOUR swings with Facebook Live

The PGA TOUR liked a new deal with Facebook, announcing an agreement with the platform to distribute exclusive Saturday and Sunday live competition coverage, on a free basis, from eight tournaments leading into the FedExCup Playoffs for the 2017-18 season. Running on Facebook Watch in the US, the coverage will be produced under the PGA […]

NBA Draft powers activate

NBA Draft powers activate (Facebook)

The NBA detailed activation plans for the NBA Draft this week, with promotion that includes (but is not limited to): American Express hosting an exclusive NBA Draft experience for approximately 140 Card Members and select executives, which will include a group photo on the NBA Draft stage, a private reception, and a Q&A/autograph/photo session with […]

CynCity

Cynsiders

Instagram