Roku Inc. reported narrower-than-expected first quarter loss, and raised its forecast on full-year revenue.
The video streaming device company incurred a loss of -9 cents per share over the three months ending in March, performing much better compared to analysts’ estimates of -25 cents loss per share (based on Refinitiv poll).
Roku’s net revenue surged by + 51% to a higher-than-expected level of $206.7 million. Its TV models are reportedly stealing rivals’ thunder in the U.S. smart TV market.
Looking ahead, the company expects Q2 revenue to range between $220 million and $225 million – which is higher than the $218 million expected by analysts. Roku boosted its full-year guidance range to $1.03 billion to $1.05 billion (implies 40% growth at the midpoint), from the earlier forecast of $1 billion to $1.025 billion.