Roku gains as Apple TV+ and Disney+ Launches drive Q4 Revenue
Roku Inc. shares jumped higher in pre-market trading Friday after it posted stronger-than-expected fourth quarter revenues, and topped Street estimates for near-term sales…
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Roku recorded a narrower-than-expected fourth quarter loss of 13 cents per share over the three months ending in December, as revenues surged nearly 50% to $411.2 million. Roku added 4.6 million new customers over the quarter, the company said, as new offerings from Walt Disney and Apple Inc. pushed the 2019 total to just under 37 million.
“As new services come on that’s good overall for Roku in terms of driving folks to the platform and increasing engagement,” CFO Steve Louden told investors on a conference call late Thursday… “And there was dollars in the quarter and dollars in the outlook related to new services like Disney Plus or Apple or others.”
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