Home News Roku Prepares for Second-Quarter Earnings Report

Roku Prepares for Second-Quarter Earnings Report

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Roku, the popular streaming service platform, is set to announce its second-quarter earnings next week, putting its impressive stock performance to the test.

In 2023 alone, Roku shares (ticker: ROKU) have experienced a remarkable 82% increase, surpassing the Nasdaq Composite’s 34% rise. However, over the past year, Roku stock has dipped by 17%.

The earnings report is scheduled to be released after the market closes on Thursday. Analyst Alicia Reese from Wedbush expects that Roku’s new products and platform features, which provide users with access to various streaming services, will stimulate user growth even during a challenging advertising market.

Despite recent difficulties in the advertising industry impacting average revenue per user, Reese remains optimistic about Roku’s position. She believes that as macroeconomic trends improve, Roku will regain profitability and solidify its position as a platform and FAST channel leader by the end of the year.

According to FactSet, Wall Street’s consensus estimate predicts sales of $773.7 million and a net loss of $1.27 per share.

Investors are eagerly anticipating signs of progress in Roku’s second-quarter report and a positive outlook for the remainder of the year.

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