Roku (NASDAQ:ROKU) earnings for first quarter of 2020 have its stock falling after-hours Thursday. This comes after reporting diluted losses per share of 45 cents, which matches Wall Street’s estimate. Its revenue of $320.77 million comes in above analysts’ estimates of $306.72 million.
Now, let’s take a more thorough look at the most recent Roku earnings report.
- Diluted per-share losses are 400% worse than the -9 cents from the same time last year.
- Revenue for the quarter comes in 55% higher compared to $206.7 million in the first quarter of 2019.
- Operating loss of -$55.2 million is 415.9% worse year-over-year next to -$10.7 million.
- The Roku earnings report also has the company bringing in a net loss of -$54.61 million.
- That’s a 461.3% wider net loss than the -$9.73 million reported during the same period of the year prior.
Roku said the following about its Q1 earnings in a letter to shareholders:
“Active accounts grew roughly 38% versus last year, driven by a year-over-year (YoY) increase in new accounts of more than 70%. Streaming hours rose by roughly 80% year-over-year, driven by an increase in streaming hours per account of approximately 30%.”
Roku doesn’t include an outlook in the current earnings report. The company withdrew its outlook back in March. Its reason for doing so is the economic uncertainty the novel coronavirus is causing.
ROKU stock was down 6.2% after markets closed on Thursday but was up 7.8% at the close of normal trading hours.
As of this writing, William White did not hold a position in any of the aforementioned securities.
