Roku Shares Are Flying After-Hours: What's Going On?

Shares of Roku Inc ROKU are trading higher during the after-hours session Wednesday after the company reported first-quarter financial results. Here’s what investors need to know.

By The Numbers: Roku reported a first-quarter earnings loss of $1.38 per share, missing the Street estimate of a $1.37 per share loss on revenues of $741 million, which also came in below the $801.69-million consensus estimate.

The online streaming platform ended the quarter with $1.63 billion in cash and cash equivalents as of March 31, 2023.

Here's what the analysts have to say.

“We delivered solid first quarter results in a challenging macro environment, growing both Active Accounts and Streaming Hours year over year,” the company said in a statement. “Roku continues to delight viewers and partner with some of the biggest brands and global entertainment companies.”

Roku had 71.6 million active accounts at the end of the first quarter, a net increase of 1.6 million from the fourth quarter of 2022.

The streaming company said it is creating new monetization opportunities is managing investments and costs to achieve positive EBITDA for full year 2024.

ROKU Price Action: The stock has a 52-week high of 110.56 and a 52-week low of $38.26. Shares were trading 3.08% higher to $58.30 in the after-hours session, according to data from Benzinga Pro.

Photo courtesy of Roku.