Roku, a company that lets people watch shows and movies, had some exciting news to share. Their report about how they’re doing in the third quarter made their stock go up a lot.
Doing Better Than Expected
Here’s how Roku did from July to September compared to what experts thought they would do:
They lost some money, about $2.33 per share, but it was less than the $2.12 that people expected.
They made a lot of money, about $912 million, which was more than the $855.2 million that experts thought they would make.
Even though they lost more money this time than they did last year, they made more money overall, which is good.
What Helped Roku?
Roku said that they did well because they were really good at sharing TV shows and ads. They also started selling special TVs with the Roku stuff already in them, and people liked those. These special TVs were first sold at a store called Best Buy, and because of that, Roku made 33% more money from selling their devices compared to the same time last year.
Roku Smart TVs Are Popular
The TVs they sell come with Roku stuff already on them, so it’s easy for people to use. They’re known as Roku smart TVs, and they’ve become really popular.
Roku’s Strength in Ads
Even when things were tough for many companies and ads weren’t doing well, did okay. They had more people watching video ads in the third quarter, and they think this will continue in the fourth quarter. However, they are a bit worried about the ad market in the future.
More People Are Using Roku
They has more people using their service now. They have 75.8 million active accounts, which is 2.3 million more than the last time they counted.
What’s Next for Roku?
They thinks they will make about $955 million in the fourth quarter. That’s a bit more than what experts thought.
In September, they said they needed to save money. They did this by not hiring as many people and by making some of their employees leave. This was the third time this year that they made some people leave their jobs.
So, to sum it up, they did really well in the third quarter, made lots of money, and has big plans for the future.