Roku (NASDAQ:ROKU) earnings for the set-top box company’s fourth quarter of 2019 have ROKU stock soaring after-hours Thursday. This is after reporting adjusted losses per share of -13 cents on revenue of $411.23 million. For comparison, Wall Street was expecting adjusted per-share losses of -14 cents on revenue of $391.61 million.
Here’s what else is worth mentioning from the most recent Roku earnings report.
- Adjusted losses per share are a switch from earnings per share (EPS) of 5 cents in the same period of the year prior.
- Revenue for the quarter comes in 49.14% increase from the $275.74 million during the fourth quarter of 2018.
- Operating loss of -$17.38 million is a change year-over-year from an operating income of $5.49 million.
- The Roku earnings report also includes a net loss of -$15.72 million.
- That’s a negative change from the company’s net income of $6.78 million from the same time last year.
Anthony Wood, founder and CEO of Roku, as well as CFO Steve Louden, said this in a joint ROKU stock letter:
“In Q4 2019, we exceeded our outlook for revenue, gross profit and adjusted EBITDA. For the full year, we achieved strong growth, exceeded $1.1 billion in revenue, and reinforced our position as America’s No. 1 TV streaming platform by hours streamed. We connect consumers, content publishers, advertisers and TV brands and are rapidly increasing our scale.”
The Roku earnings report also includes its outlook for 2020. This has it expecting revenue of $1.58 billion to $1.62 billion during the year. If this holds true, it will likely have the company beating out Wall Street’s estimate of $1.58 billion for the period.
ROKU stock ended the day up less than 1%, but is currently up more than 4% after market close.
As of this writing, William White did not hold a position in any of the aforementioned securities.
