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Roku jumps 10% after saying it expects to be profitable in fourth quarter

Published 02/11/2023, 07:28 am
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Roku (NASDAQ:ROKU) reported third quarter results and offered guidance for this quarter.

Third quarter loss per share of $2.33 was worse than the analysts' estimate of -$1.96. Revenue for the quarter came in at $912 million, ahead of the consensus estimate of $855.1 million.

The stock was boosted after Roku said it expects to record adjusted Ebitda of $10 million in the fourth quarter, which is a surprise given that analysts were expecting a loss of $57.6 million.

Revenue is expected at $955 million, in line with the consensus of $956.8 million.

“We remain cautious amid an uncertain macro environment and an uneven ad market recovery,” the company said in a press release.

“As we indicated earlier, we remain committed to positive Adjusted EBITDA for full year 2024, with continued improvements after that.”

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