Are Roku’s Q4 Numbers Signaling a Turnaround?
Roku shares made a huge gain on Monday after the company provided an update on its streaming platform. The company made these disclosures ahead of business meetings at CES 2019 this week in Las Vegas.
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
Roku Inc. (NASDAQ: ROKU) shares made a huge gain on Monday after the company provided an update on its streaming platform. The company made these disclosures ahead of business meetings at CES 2019 this week in Las Vegas.
Overall, the firm demonstrated continued momentum for its platform, as well as a shift in consumers toward streaming. Specifically, the firm announced that its fourth-quarter active accounts topped 27 million, up roughly 40% year over year.
Also, fourth-quarter streaming hours were an estimated 7.3 billion hours, up about 68% year over year, bringing the full year 2018 streaming hours to about 24 billion, up about 61% from 2017.
Roku will report its final operating metrics as well as fourth-quarter and full-year 2018 financial results in February. Consensus estimates are calling for $0.04 in earnings per share (EPS) and $261.05 million in revenue. The same period of last year reportedly had $0.08 in EPS and $188.26 million in revenue.
[nativounit]
Roku CEO Anthony Wood commented:
Strong active account growth and accelerating streaming hours point to consumers’ growing enthusiasm for streaming, making Roku America’s largest and fastest growing TV streaming distribution platform. In 2018, we maintained our leadership in streaming players, licensed smart TVs and TV streaming hours. Roku continues to bring viewers more choice, great value, a compelling user experience – and lots of TV fun.
Shares of Roku were last seen up about 20% at $40.59, with a consensus analyst price target of $60.46. The 52-week trading range is $26.30 to $77.57.
[recirclink id=519273]
[wallst_email_signup]
Contact [email protected] for any questions or corrections.
Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics. Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications. A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.
