Streaming Services Fuel Strong Quarter at Roku
Shares of the streaming platform provider jumped about 7% following better-than-expected revenue and earnings on Thursday. CEO Anthony Wood and CFO Steve Louden called 2019 "a tremendous year for TV streaming," which gave a huge boost to Roku's (NASDAQ: ROKU) platform.
For the fourth quarter, revenue soared 49% year over year to $411 million, beating the consensus analyst estimate of $392 million. The holiday quarter is closely watched by analysts, since it generates about 35% of annual revenue.
While Roku didn't report a profit, the net loss of $0.13 came in slightly ahead of estimates of $0.14. Management plans to continue reinvesting its gross profit to differentiate the platform to drive growth.
Source Fool.com
