Roku shares soar on third-quarter revenue beat

Roku revenue grew 20% year over year in the third quarter and beat Wall Street expectations.Follow your favorite stocksA video sign displays the logo for Roku Inc, a Fox-backed video streaming firm, in Times Square after the company’s IPO at the Nasdaq Market in New York, September 28, 2017.soared in after-hours trading on Wednesday after the company reported better-than-expected revenue for the third quarter.

Here’s how Roku performed for the quarter ended Sept. 30, compared with analyst estimates from LSEG, formerly known as Refinitiv:Roku reported a net loss of $330.1 million for the third quarter, or $2.33 per share, nearly triple the loss of $122.2 million, or 88 cents per share, the company reported in the year-ago quarter.

But revenue was up 20% year over year, the company reported, largely driven by “strong performance in content distribution and video advertising, along with unit sales of Roku-branded TVs, which launched in March 2023,” RokuRoku-branded smart TV’s come pre-installed with the Roku interface users would experience on an external plug-in Roku Streaming Player. headtopics.com

Active accounts also beat the Street, coming in at 75.8 million for the quarter, compared with StreetAccount estimates of 75.33 million. That’s a net increase of 2.3 million active accounts from the previous quarter.

For the fourth quarter, Roku expects revenue of roughly $955 million, topping the $952 million expected by Wall Street, according to LSEG.

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