Roku (ROKU) To Report Earnings Tomorrow: Here Is What To Expect
Stock Story
Published Oct 31, 2023 03:00AM ET
Updated Oct 31, 2023 06:31AM ET
Roku (ROKU) To Report Earnings Tomorrow: Here Is What To Expect
Streaming TV platform Roku (NASDAQ: NASDAQ:ROKU) will be announcing earnings results tomorrow after market close. Here's what to expect.
Last quarter Roku reported revenues of $847.2 million, up 10.8% year on year, beating analyst revenue expectations by 9.38%. It was a strong quarter for the company, with an impressive beat of analysts' revenue estimates and solid growth in its user base. The company reported 73.5 million monthly active users, up 16.5% year on year.
Is Roku buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting Roku's revenue to grow 12.4% year on year to $855.7 million, in line with the 12% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted loss is expected to come in at -$1.73 per share.
The analysts covering the company have been growing increasingly bullish about the business heading into the earnings, with revenue estimates seeing six upwards revisions over the last thirty days. The company missed Wall St's revenue estimates three times over the last two years.
Looking at Roku's peers in the consumer subscription segment, some of them have already reported Q3 earnings results, giving us a hint of what we can expect. Coursera delivered top-line growth of 21.4% year on year, beating analyst estimates by 4.21%, and Netflix (NASDAQ:NFLX) reported revenues up 7.77% year on year, exceeding estimates by 0.02%. Coursera traded up 15.6% on the results, and Netflix was up 11.6%.
Read the full analysis of Coursera's and Netflix's results on StockStory.
The fears around raising interest rates have been putting pressure on tech stocks and while some of the consumer subscription stocks have fared somewhat better, they have not been spared, with share price declining 7.35% over the last month. Roku is down 20% during the same time, and is heading into the earnings with analyst price target of $83.4, compared to share price of $56.4.
The author has no position in any of the stocks mentioned.
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