Media streaming platform Roku, Inc. (NASDAQ: ROKU) reported a net loss for the first quarter of 2023, mainly reflecting the continued decline in advertising demand.
The company reported total revenues of $741 million for the three months ended March 2023, which is up 1% from the year-ago period. The number of active accounts increased to 71.6 million.
Roku incurred a net loss of $193.6 million or $1.38 per share in the first quarter, which marked a deterioration from the prior-year period when the company reported a loss of $26.3 million or $0.19 per share.
“With the launch of the first streaming player in 2008, we pioneered TV streaming on the belief that all TV will be streamed. While the current economic cycle is challenging, we are not waiting idly for recovery. We continue to grow our significant scale and engagement,” said Anthony Wood, CEO of Roku.
Stocks you may like:
Nike, Inc. (NYSE: NKE) on Thursday reported results for the first three months of fiscal 2024, reporting a modest rise in revenues. The sneaker giant reported net income of $1.45
Shares of Accenture plc (NYSE: ACN) were down 4% on Thursday after the company delivered mixed results for the fourth quarter of 2023 and provided full-year guidance that came below
CarMax, Inc. (NYSE: KMX) reported second quarter 2024 earnings results today. Net revenues were $7.1 billion, down 13.1% compared to the same period a year ago. Net earnings declined 5.8%