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."
A new poll finds U.S. adults are more likely than they were a year ago to think immigrants in the country legally benefit the economy. That comes as President Donald Trump's administration imposes new restrictions targeting legal pathways into the country. The Associated Press-NORC Center for Public Affairs Research survey finds Americans are more likely than they were in March 2024 to say it’s a “major benefit” that people who come to the U.S. legally contribute to the economy and help American companies get the expertise of skilled workers. At the same time, perceptions of illegal immigration haven’t shifted meaningfully. Americans still see fewer benefits from people who come to the U.S. illegally.
Shares of Tylenol maker Kenvue are bouncing back sharply before the opening bell a day after President Donald Trump promoted unproven and in some cases discredited ties between Tylenol, vaccines and autism. Trump told pregnant women not to use the painkiller around a dozen times during the White House news conference Monday. The drugmaker tumbled 7.5%. Shares have regained most of those losses early Tuesday in premarket trading.
Scott Trench, host of the BiggerPockets Money Podcast, explores how recent rate cuts, high borrowing costs, and mortgage rates are reshaping U.S. real estate.
A look into how disruption, AI, and global economic trends are transforming the modern supply chain with Jeremy Jansen, Head of Supply Chain at Wells Fargo.
Delta CSO Amelia DeLuca reveals at the Fast Co. Innovation Festival how tech, sustainable aviation fuel, and smart operations are revolutionizing air travel.
Chipmaker Nvidia will invest $100 billion in OpenAI as part of a partnership that will add at least 10 gigawatts of Nvidia AI data centers to ramp up the computing power for the owner of the artificial intelligence chatbot ChatGPT.
Two of the nation’s biggest real estate services companies are combining in a deal that will bring Century 21, Compass and several other major brokerage brands under the same umbrella.
