MW Roku stock gains after revenue, outlook exceed expectations
Roku Inc. (ROKU) shares were up 1.5% in after-hours trading Thursday after the company posted better-than-expected top-line results for its fourth quarter and delivered a full-year outlook that came in ahead of projections. The company reported net income of $6.8 million, or 5 cents a share, down from $6.9 million, or 6 cents a share, in the year-ago period. Revenue for the fourth quarter climbed to $275.7 million from $188.3 million. Analysts surveyed by FactSet had been estimating $262.1 million in revenue. Roku generated $124.3 million in revenue from its player business and $151.4 million in revenue from its platform business. Roku added 3.3 million incremental active accounts in the December quarter and had 27.1 million active accounts in total at the end of 2018. For the first quarter, Roku expects total net revenue of $185 million to $190 million. The company projects $1 billion to $1.025 billion in revenue for the full year ahead. Analysts had been modeling $188.3 million in first-quarter revenue and $985.2 million in full-year revenue.
-Emily Bary; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
February 21, 2019 16:16 ET (21:16 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.