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New streaming launches power Roku’s holiday sales, forecast – Source Reuters Tech News

(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 Inc’s Prime Video…

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Source Reuters Tech News

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