Summary by Moomoo AI
Roku Inc reported a net loss of $9.03 million for the third quarter ended September 30, 2024, a significant improvement from the $330.07 million net loss in the same period last year. The basic and diluted net loss per share was $0.06, compared to $2.33 in the previous year. Income tax expense increased to $4.1 million from $3.2 million year-on-year. The company's platform segment saw a 15% revenue increase, attributed to higher streaming services distribution and advertising revenue, despite weakness in the media and entertainment vertical. Device revenue also rose by 23%, driven by sales of Roku-branded TVs. The company's restructuring efforts, initiated in the fourth quarter of fiscal 2022, continued with charges related to employee terminations and facilities exit costs. Roku Inc's international revenue...Show More