Shares of Roku fell today following a mixed Q3 report. Roku CEO Anthony Wood weighs in on the quarter and what’s next for the company.
plunged on Thursday, after the streaming devices company posted third-quarter results that missed Wall Street's expectation following multiple quarters of blowout growth.
Roku reported a third-quarter loss of 22 cents a share, worse than the 18 cents a share loss analysts surveyed by FactSet expected. Roku had beaten analysts' expectations for quarterly earnings in seven of its last eight reports. "ROKU broke a string of 2019 beats reporting a mixed 3Q and a frankly surprisingly mixed 4Q despite its leadership position in the distribution of Disney+," Pivotal Research analyst Jeffrey Wlodarczak said. "We are not surprised by the ... decline indication in the stock in the after-market as an undeniably rich 12+X '20 revenue multiple simply does not leave a lot of room for anything but material beats.
Pivotal has a sell rating on Roku with a $60 price target. RBC Capital similarly pointed out Roku's advantage as a distributor, as it get revenue from the streaming services of
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