(Reuters) – Roku Inc beat Wall Street estimates for holiday-quarter sales and forecast full-year revenue above expectations on Thursday, as the video streaming device maker benefited from the launch of new streaming services from Walt Disney and Apple.
FILE PHOTO A video sign displays the logo for Roku Inc, a Fox-backed video streaming firm, in Times Square after the company’s IPO at the Nasdaq Market in New York, U.S., September 28, 2017. REUTERS/Brendan McDermid/File Photo
Shares of the company rose 6% after the bell.
Roku expects full-year revenue between $1.58 billion and $1.62 billion, while analysts were expecting $1.58 billion, according to IBES data from Refinitiv.
Walt Disney Co’s streaming platform Disney+ launched here in November and reached 10 million sign-ups in its first day, while Apple Inc also introduced its streaming service Apple TV+ in the same month.
Streaming device makers have benefited alongside platforms like Netflix Inc and Amazon.com Inc’s Prime Video…
Source Reuters Tech News