Roku shares popped more than 20 percent after hours on Wednesday after the company posted a narrower loss than Wall Street estimated, thanks to better-than-expected sales in its first earnings report as a public company.
- Adjusted loss per share: 10 cents loss, excluding items, vs. loss of $1.37 expected by a Thomson Reuters consensus estimate.
- Revenue: $124.8 million vs. estimate of $110.5 million by Thomson Reuters consensus
The streaming technology company went public in late September in a $252 million IPO. The company’s fortunes have risen alongside services like Netflix that have moved TV viewership online, often using devices made by Roku.
Netflix also reported better-than-expected financial results last quarter.
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Source: Tech CNBC
Roku shares skyrocket as sales crush Wall Street estimates