Roku Inc (NASDAQ: ROKU) bolted from the blocks in Thursday trading, after the company reported stronger-than-expected results for its third quarter in its first quarterly report as a public company. The company also announced fourth quarter guidance sales guidance of $175 million-$190 million, above consensus estimates of $177 million.
Roku reported $124.8 million in net revenue for its third quarter, compared to $110.5 million in analyst estimates. It’s also above the $89 million in revenue for the same period last year.
Adjusted losses per share were just 10 cents, better than last year’s loss of 17 cents and far better than the loss of $1.40 that some on Wall Street anticipated.
Net loss was $46.2 million. Loss from operations was $7.9 million.
"Our higher margin platform segment is the key driver of our growth and gross margin expansion, and our advertising business has more than doubled in size year-to-date," said CEO Anthony Wood in the company press release.
Roku pioneered streaming to the TV. We connect users to the streaming content they love, enable content publishers to build and monetize large audiences, and provide advertisers with unique capabilities to engage consumers. Roku streaming players and Roku TV models are available around the world through direct retail sales and licensing arrangements with TV OEMs and service operators. The company was founded by Anthony Wood, inventor of the DVR. Roku is headquartered in Los Gatos, Calif.
Shares rocketed $9.25, or 49.1%, to $28.09, within a few minutes of Thursday’s closing bell.