Roku is up 46.66% on Thursday to $US27.35 after reporting earnings.
In the first earnings report as a public company, Roku crushed estimates, reporting an adjusted loss of $US0.10 on revenues of $US124.78 million. Wall Street was expecting a loss of $US0.40 per share on revenue of $US118.75 million.
The company said its fourth-quarter revenue should come in around $US175 million to $US190 million thanks to strong anticipated holiday sales, while Wall Street was expecting $US177 million.
Even though the company lost money in the third quarter, it says its new focus on the platform part of its business is going well. The company now boasts 16.7 million users and said revenue from licensing deals and advertisements jumped 137% in the last year, and now is almost half of the company’s total revenue.
Roku went public at $US14 a share earlier this year and is up 98.9% since then.
Business Insider Emails & Alerts
Site highlights each day to your inbox.