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Roku reported a double beat, but that wasn't enough. Is it a buy right now?

Roku, Inc. (NASDAQ:ROKU ) Q1 2024 Earnings Call Transcript April 25, 2024 5:00 PM ET Company Participants Conrad Grodd - IR Anthony Wood - Founder and CEO Dan Jedda - CFO Mustafa Ozgen - President, Devices Charlie Collier - President, Roku Media Conference Call Participants Cory Carpenter - JPMorgan Vasily Karasyov - Cannonball Research Steven Cahall - Wells Fargo Ralph Schackart - William Blair Rich Greenfield - LightShed Partners Ruplu Bhattacharya - Bank of America Jason Bazinet - Citi Barton Crockett - Rosenblatt Ian Peterson - Evercore ISI Operator Good day, everyone, and thank you for standing by. Welcome to the Roku's First Quarter 2024 Earnings Call.

While the top- and bottom-line numbers for Roku (ROKU) give a sense of how the business performed in the quarter ended March 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Roku (ROKU) came out with a quarterly loss of $0.35 per share versus the Zacks Consensus Estimate of a loss of $0.64. This compares to loss of $1.38 per share a year ago.

Roku (ROKU) reports earnings this afternoon. LikeFolio's Landon Swan previews these earnings and discusses consumer sentiment trends in Roku.

TV-streaming service Roku Inc. ROKU, +1.58% on Thursday forecast second-quarter sales that were above expectations, but warned of a higher bar for growth up ahead and moderating profit in the second half of the year. Roku said it expected second-quarter sales of $935 million, above FactSet estimates for $926 million.

Roku posted solid first-quarter financials, with positive results in several key metrics illustrating the benefits of ongoing price inflation in the streaming sector. Net losses totaled 35 cents a share, far better that Wall Street analysts' consensus estimate of 62 cents and much narrower than the $1.38 recorded in the year-ago quarter. Revenue of $754.

Roku beat Wall Street estimates for quarterly revenue on Thursday, as it benefited from strong ad sales and the ongoing shift from cable TV to streaming platforms.

Roku Inc has lost some 40% in less than three months but a Wedbush Securities analyst is convinced the story moving forward will be a different one.

The technology-heavy Nasdaq Composite index has advanced by 50% during this bull market, but some analysts still see substantial upsides in SoundHound AI and Roku. SoundHound AI is a fast-growing independent provider of voice artificial intelligence (AI) solutions that has hardly scratched the surface of its $160 billion market opportunity.