Roku Inc ROKU shares are trading higher in Tuesday's after-hours session in sympathy with Netflix Inc NFLX, which announced better-than-expected subscriber numbers.
Netflix previously guided for a loss of 2 million subscribers in the second quarter, but the company reported a loss of just under 1 million. Global streaming paid memberships totaled 220.67 million in the quarter, up 5.5% year-over-year.
Netflix said it expects paid net adds to increase by about 1 million in the third quarter. Earnings are expected to come in at $2.14 per share versus the estimate of $2.77 per share.
Roku is set to announce its second-quarter financial results after the market closes on July 28, according to data from Benzinga Pro.
Roku pioneered streaming to TV. The company connects users to streaming content, enables content publishers to build and monetize large audiences and provides advertisers with unique capabilities to engage consumers.
ROKU Price Action: Roku has traded between $490.76 and $72.63 over a 52-week period.
The stock was up 2.44% in after hours at $92.06 at press time.
Photo: courtesy of Roku.
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