
HeyΒ Global Investor, here's what you need to know before the US markets open.
Market Snapshot π
S&P 500Β (Wednesday Close) 3,327.77Β +21.26Β (0.64%)
NASDAQΒ (Wednesday Close) 10,998.40Β +57.23Β (0.52%)
FTSE 100Β (5 PM IST) 5984.24Β -120.48 (-1.97%)
NIFTY 50Β (Today's Close) 11,120.10Β +24.85Β (0.22%)
USDINRΒ (5 PM IST) 74.97Β (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?Β 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 yearβs 9.4B hours, the company acknowledged a βmoderationβ in streaming levels since peaking in early Q2.
Key numbers:
Earnings per share:Β Net loss of 35 cents per share vs. expected 52 cents per share loss
Revenue:Β $356.1M vs $316M expected
Active accounts:Β 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 βnormalizesβ 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:Β The share price closed 0.61% down at $165.42 and further fell 0.4% after trading hours.
Roku Snapshot
ROKU $165.42 -1.02 (-0.61%)
Analyst Rating (21 Ratings) BUY 62%Β Β HOLD 29% Β SELL 9%
NewsworthyΒ π°
You Can't Write that Mr. President:Β Facebook, Twitter remove Trump posts for making βfalse claimsβ about coronavirus (FBΒ -0.20%,Β TWTRΒ +1.21%)
'SaaS'y Buy for Uber:Β Uber picks up Autocab to push into places its own app doesn't goΒ (UBERΒ +1.62%)
An Integrated Approach:Β Microsoft integrates Android apps into Windows 10 with new Your Phone update (MSFTΒ -0.16%)
Later TodayΒ π
6.00Β pm IST:Β Initial jobless claims (state program, SA)
6.00 pm IST:Β Initial jobless claims (total, NSA)
6.00Β pm IST:Β Continuing jobless claims (state program, SA)
6.00Β pm IST:Β Continuing jobless claims (total, NSA)
7.30 pm IST:Β Household debt (SAAR)
Before Market Open -Β Becton Dickinson and Co Earnings
Fun Fact of The DayΒ π
ButterfliesΒ Taste With Their Feet
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