Nov 8, 2017

Roku stock soars after strong first earnings report since IPO

AP Images

Stock for Roku, an streaming platform company, was up over 20% in after-hours trading Wednesday after it beat Wall Street estimates for its first earnings report as a public company. Of note, the company says it expects full year revenues to reach or exceed $500 million in 2017, nearly double those from the year prior. Two-thirds of Roku's revenue last quarter came from video advertising served on ad-supported channels, including "The Roku Channel."

Why it matters: Roku continues to be the the most-used connected-TV device in U.S., per eMarketer, beating Google Chromecast, Amazon Fire and Apple TV. Its success points not only to the momentum of digital TV in the U.S., but its popularity with consumers.

By the numbers:

  • Net revenue: $124.8 million, up 40% year over year vs. $110.5 million Thomson Reuters estimates, per CNBC
  • Adjusted EPS: 10 cents loss, vs. loss of $1.37 Thomson estimate, per CNBC
  • Gross profit: $49.9 million, up 92% year over year
  • Active Accounts: 16.7M, up 48% year over year
  • p.p1 {margin: 0.0px 0.0px 0.0px 0.0px; font: 12.8px Arial; color: #222222; -webkit-text-stroke: #222222; background-color: #ffffff} li.li1 {margin: 0.0px 0.0px 0.0px 0.0px; font: 12.8px Arial; color: #222222; -webkit-text-stroke: #222222; background-color: #ffffff} span.s1 {font-kerning: none} ul.ul1 {list-style-type: circle} ARPU (Avg. revenue per user): $12.68, up 37% year over year

Go deeper

Deadly clashes erupt in Delhi ahead of Trump's visit

Rival protesters over the Citizenship Amendment Act in Delhi, India, on Monday. Photo: Yawar Nazir/ Getty Images

Delhi Chief Minister Arvind Kejriwal called for calm Tuesday as deadly clashes erupted in the city's northeast between supporters and opponents of India's controversial new citizenship law.

Why it matters: Per the BBC, a police officer and six civilians "died in the capital's deadliest day" since last year's passing of the Citizenship Amendment Act — which allows religious minorities but excludes Muslims from nearby countries to become citizens if they can show they were persecuted for their religion — hours before President Trump and members of the U.S. first family were due to visit the city as part of their visit to India.

Go deeper: India's citizenship bill continues Modi's Hindu nationalist offensive

South Carolina paper The State backs Buttigieg for Democratic primary

Democratic presidential candidate and former South Bend Pete Buttigieg speaks at an event in Charleston, South Carolina on Monday. Photo: Win McNamee/Getty Images

South Carolina newspaper The State endorsed former Southbend Mayor Pete Buttigieg on Monday night for the state's Democratic primary.

Why it matters: It's a welcome boost for Buttigieg ahead of Tuesday's Democratic debate in South Carolina and the state's primary on Saturday.

White House requests $2.5 billion to fight coronavirus as U.S. cases rise

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

The Trump administration sent a letter to Congress Monday requesting a funding commitment of at least $2.5 billion to help combat the spread of the novel coronavirus, as the number of confirmed cases in the U.S. rose to 53.

The big picture: As South Korea and Italy stepped up emergency measures in efforts to thwart the spread of the virus, WHO expressed concern about infections with no clear link to China. COVID-19 has killed at least 2,699 people and infected more than 80,000 others, with all but 27 deaths occurring in mainland China.

Go deeperArrowUpdated 2 hours ago - Health