With many companies continuing to share their latest fiscal quarter earnings results, Roku was among those up to report this week. The Smart TV-focused company put up its Q3 2023 earnings results, which saw it achieve a decent beat on revenue versus expectations. However, the company was unable to beat expectations on earnings-per-share (EPS), putting up greater-than-expected losses per share for the quarter.
Roku put out its Q3 2023 earnings results in a press release on its investor relations website this week. It was a mixed quarter for the company. Roku had good news on the revenue front, putting up $912 million USD. This was well above the expected Wall Street revenue of $855 million. That said, over on the EPS front, Roku posted a loss of $2.33 per share. This was a greater loss than expectations from Wall Street, which called for $2.12 per share in losses, and Whisper Number, which estimated $1.67 per share in losses.
Roku hasn’t been blowing up the tech industry, but it has remained stable across its fiscal year in 2023. The company has continually beat revenue estimates across the year, achieving similar results of revenue beats and EPS misses in Q1, and managing to beat all estimates in Q2. This is despite the fact that Roku continues to compete with an expanded market of TV services and hardware.
With another mixed quarter in the books, Roku remains a competitor in the current tech industry climate. Stay tuned as we continue to report on other companies’ latest fiscal quarterly reports.