Share prices for streaming giant Roku continued to surge in after-hours trading Wednesday following the company's release of its quarterly earnings report. That's a positive sign for the company as competition heats up in the streaming space, with new services expected from both Disney and Apple in the coming months.
Roku announced that it is raising its full-year outlook to a midpoint of $1.085 billion, up from the range of $1.03 to $1.05 billion that the company set following the last quarter.
On earnings-per-share, Roku also beat expectations. Analysts had anticipated a 22 cent loss in earnings-per-share, but the company only lost 8 cents per share, a sign that it's edging closer to profitability.
The company stands to benefit as American households increasingly look to cut the cord, and transfer from cable bundles to online content subscriptions. Roku earns revenue from advertising on its platform, subscriptions to its content, and selling its operating system boxes, which connect to televisions.
The company reported that its total net revenues have risen to $250 million, up 59 percent year-over-year. Streaming hours are also up by half a billion from the first quarter, and a 72 percent rise from the second quarter last year. Average revenue per user is also up $2 from the first quarter.
"We're an essential partner, especially for new services, because we're the best place to grow audience. Not only do we have the biggest platform in the U.S., but we also have the most robust tool services to help them build viewership for their new services," Roku CFO Steve Louden told Cheddar in May. "They need to find a home on a place like Roku, and we have the most content out there right now."
Joe Cecela, Dream Exchange CEO, explains how they are aiming to form the first minority-controlled company to operate an exchange in U.S. history. Watch!
A Michigan judge is putting sponges in the hands of shoplifters and ordering them to wash cars in a Walmart parking lot when spring weather arrives. Genesee County Judge Jeffrey Clothier hopes the unusual form of community service discourages people from stealing from Walmart. The judge also wants to reward shoppers with free car washes. Clothier says he began ordering “Walmart wash” sentences this week for shoplifting at the store in Grand Blanc Township. He believes 75 to 100 people eventually will be ordered to wash cars this spring. Clothier says he will be washing cars alongside them when the time comes.
The State Department had been in talks with Elon Musk’s Tesla company to buy armored electric vehicles, but the plans have been put on hold by the Trump administration after reports emerged about a potential $400 million purchase. A State Department spokesperson said the electric car company owned by Musk was the only one that expressed interest back in May 2024. The deal with Tesla was only in its planning phases but it was forecast to be the largest contract of the year. It shows how some of his wealth has come and was still expected to come from taxpayers.
At 100 years old, the Goodyear Blimp is an ageless star in the sky. The 246-foot-long airship will be in the background of the Daytona 500 — flying roughly 1,500 feet above Daytona International Speedway, actually — to celebrate its greatest anniversary tour. Even though remote camera technologies are improving regularly and changing the landscape of aerial footage, the blimp continues to carve out a niche. At Daytona, with the usual 40-car field racing around a 2½-mile superspeedway, views from the blimp aptly provide the scope of the event.
You'll just have to wait for interest rates (and prices) to go down. Plus, this deal's a steel, the big carmaker wedding is off, and bribery is back, baby!
It’s a chicken-and-egg problem: Restaurants are struggling with record-high U.S. egg prices, but their omelets, scrambles and huevos rancheros may be part of the problem. Breakfast is booming at U.S. eateries. First Watch, a restaurant chain that serves breakfast, brunch and lunch, nearly quadrupled its locations over the past decade to 570. Fast-food chains like Starbucks and Wendy's added more egg-filled breakfast items. In normal times, egg producers could meet the demand. But a bird flu outbreak that has forced them to slaughter their flocks is making supplies scarcer and pushing up prices. Some restaurants like Waffle House have added a surcharge to offset their costs.
William Falcon, CEO and Founder of Lightning AI, discusses the ongoing feud between Elon Musk and Sam Altman, and how everyday people can use AI in their lives.
