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Roku Q2 Results Top Estimates; Stock Surges

(RTTNews) - Roku Inc. (ROKU) repoted that its second-quarter net loss was $9.33 million or $0.08 per share, compared to net income of $526 thousand or break even per share in the prior year. Analysts polled by Thomson Reuters expected the company to report a loss of $0.22 per share. Analysts' estimates typically exclude special items.

Total net revenue for the quarter rose to $250.10 million from $156.81 million last year. Analysts expected revenue of $224.2 million for the quarter.

ROKU closed Wednesday regular trading at $100.97, up $2.49 or 2.53 precedent. In the after-hours, the stock further gained $12.51 or 12.39 percent.

The company said its third-quarter outlook calls for 46% year-over-year revenue growth to $252.5 million at the midpoint

The company expects net loss to be in the range of $34 million - $40 million and total net revenue of $250 million - $255 million for the third-quarter.

Looking ahead for 2019, the company projects net loss of $61 million - $71 million, and revenue of $1.075 billion- $1.095 billion.

The company raised its full year 2019 adjusted EBITDA outlook to a range of $30 million to $40 million.
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