Roku Inc. (NASDAQ: ROKU) reported a wider loss in the second quarter of 2020, while revenue grew 42% to $356 million. Loss of $0.35 per share was bigger than the Street’s expectations. However, revenue surpassed the analysts’ views.
Roku shares were down about 1% immediately after the earnings announcement.
Because of COVID-19 pandemic impact, Roku didn’t issue any outlook this time. The company stated that ad industry outlook remains uncertain for Q3 and Q4. The company expects total TV ad spend will not recover to pre-COVID-19 levels until well into 2021. Advertisers in industries like Casual Dining, Travel and Tourism have significantly slowed their spending.
For a large number of people, streaming videos and TV shows are the first preference when they want to keep themselves engaged during the lockdown. Streaming giant Netflix, Inc. (NASDAQ:
Citigroup Inc. (NYSE: C) on Friday said its fourth-quarter profit decreased despite modest growth in revenues. However, the numbers topped the market’s projections. Fourth-quarter net profit declined to $3.2 billion
JPMorgan Chase & Co. (NYSE: JPM) reported fourth-quarter 2021 earnings results today. Reported revenue was flat year-over-year to $29.3 billion. Net income decrease 12% to $12.1 billion while EPS decreased