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.

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