Investing.com -- Roku Inc (NASDAQ:ROKU) shares surged 15% at $100 in after-hours trading as the company reported a smaller-than-expected loss for the fourth quarter, as revenue surpassed Wall Street estimates, helped by subscribers growth in its streaming platform business.
The company posted a quarterly loss of $0.24 per share, while analysts’ expectations were of a $0.42 loss per share. Revenue rose to $1.2 billion, exceeding the consensus estimate of $1.15 billion.
Roku, which generates revenue through digital advertising and content distribution on its streaming platform and face challenges from a softer ad market and increased competition, expects revenue of $1.01 billion, in line with analysts’ expectations of $1.01 billion.
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