Wall Street Cheers Roku Outlook For Full-Year Profit; Q3 Results Miss Estimates But Active Accounts Rise To 75.8M And Cost-Cutting Benefits Start To Materialize
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deadline.comShares in Roku surged almost 10% in after-hours trading after the company affirmed its outlook for “positive full-year EBITDA,” meaning a return to profitability.
The streaming giant posted third-quarter results below Wall Street analysts’ expectations, with revenue of $786.8 million and an adjusted loss of $2.33 per share.
While the quarterly results were less-than-stellar, the company said it saw an uptick of 2.3 million active accounts since last quarter, to a total of 75.8 million.
The number of total hours streamed across Roku devices in the trailing 12 months also topped 100 billion for the first time.
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