5 Stocks Gaining Attention on Earnings Reports

2. Roku, Inc. (NASDAQ:ROKU)

Number of Hedge Fund Holders: 61

Shares of Roku, Inc. (NASDAQ:ROKU) fell to a seven-month low in the pre-market trading session on Thursday, 4 November 2021, after posting lower-than-expected revenue for the third quarter. The company’s revenue for the quarter climbed 51 percent on a year-over-year basis to $680 million but fell short of analysts’ average estimate of $684 million.

On the bright side, quarterly earnings of 48 cents per share easily surpassed the consensus forecast of 6 cents per share. Roku, Inc. (NASDAQ:ROKU) had reported earnings of 9 cents per share on revenue of $452 million for the comparable period of 2020.

Looking forward, Roku, Inc. (NASDAQ:ROKU) expects revenue in the range of $885 million – $900 million for the fourth quarter, below the consensus forecast of $946 million.

Addressing shareholders, Roku, Inc. (NASDAQ:ROKU) said in a statement:

“In the third quarter, ARPU surpassed the milestone of $40 (trailing 12-month basis) and grew nearly 50% year-over-year. As the global shift to TV streaming continues, our performance demonstrates the strength of our business fundamentals and the momentum of our platform monetization.”