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🕒 14.6 Billion Hours Roku'd in Q2
What you need to know before the US markets open 🇺🇸
Hey Global Investor, here's what you need to know before the US markets open.
Market Snapshot 📈
S&P 500 (Wednesday Close) 3,327.77 +21.26 (0.64%)
NASDAQ (Wednesday Close) 10,998.40 +57.23 (0.52%)
FTSE 100 (5 PM IST) 5984.24 -120.48 (-1.97%)
NIFTY 50 (Today's Close) 11,120.10 +24.85 (0.22%)
USDINR (5 PM IST) 74.97 (1 Year +5.29%)
Roku Users Streamed 14.6 Billion Hours of Content in Q2
In a mixed earnings report, the company reported a net loss but better-than-expected revenue for Q2.
What Happened? Roku posted revenue of $356M against an expected $316M in Q2, driven by 14.6B hours of content streaming despite falling ad spends. While this is a substantial increase from last year’s 9.4B hours, the company acknowledged a “moderation” in streaming levels since peaking in early Q2.
Earnings per share: Net loss of 35 cents per share vs. expected 52 cents per share loss
Revenue: $356.1M vs $316M expected
Active accounts: 43M vs. 42M expected
Roku generated $244.8M from its platform business and $111.3M from its player segment. The average revenue per user also grew from $21.06 to $24.92 Y-o-Y.
The company highlighted struggling ad-spending in Q3 and Q4, and is unable to commit on its performance until the situation “normalizes” in 2021. Still, Roku is hopeful of a strong Y-o-Y growth in the second half, albeit not as strong as expected before the Covid-19 pandemic.
The company has called off the search for succeeding CFO Steve Louden as he intends to continue in the role.
Market Reaction: The share price closed 0.61% down at $165.42 and further fell 0.4% after trading hours.
ROKU $165.42 -1.02 (-0.61%)
Analyst Rating (21 Ratings) BUY 62% HOLD 29% SELL 9%
You Can't Write that Mr. President: Facebook, Twitter remove Trump posts for making ‘false claims’ about coronavirus (FB -0.20%, TWTR +1.21%)
'SaaS'y Buy for Uber: Uber picks up Autocab to push into places its own app doesn't go (UBER +1.62%)
An Integrated Approach: Microsoft integrates Android apps into Windows 10 with new Your Phone update (MSFT -0.16%)
Later Today 🕒
6.00 pm IST: Initial jobless claims (state program, SA)
6.00 pm IST: Initial jobless claims (total, NSA)
6.00 pm IST: Continuing jobless claims (state program, SA)
6.00 pm IST: Continuing jobless claims (total, NSA)
7.30 pm IST: Household debt (SAAR)
Before Market Open - Becton Dickinson and Co Earnings
Fun Fact of The Day 🌞
Butterflies Taste With Their Feet
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