Vizio Tops Wall Street Forecasts In First Quarter Since Smart TV Maker’s IPO

deadline.com:

Smart TV maker Vizio exceeded Wall Street analyst forecasts for its first quarterly report as a public company, posting revenue of $505.7 million and earnings of 2 cents a share.Analysts’ consensus called for revenue of $484.1 million and a loss of 10 cents a share.Vizio went public in March, positioning itself as much more than a manufacturer of TV sets and sound bars.

Its platform business, both as a data-driven advertising environment and a streaming distribution hub, has drawn comparisons to Roku’s.

Vizio is the No. 2 smart TV firm in North America, trailing only Samsung, giving it a sizable installed base to leverage in other areas beyond electronics.Shares in Vizio, which have gained more than 20% since the IPO, shed nearly 7% of