Summary by Moomoo AI
Roku Inc has reported its financial performance for the quarter ending March 31, 2024, revealing a net loss of $50.9 million, an improvement from the $193.6 million net loss in the same period the previous year. The diluted net loss per share was $0.35, compared to $1.38 in the prior year. The company's income tax expense increased to $4.8 million from $3.6 million year-over-year. Roku's restructuring efforts, initiated in the fourth quarter of fiscal 2022, continued with charges related to employee terminations and asset impairment. Despite the net loss, Roku's platform segment remains strong, generating 86% of total net revenue from digital advertising and streaming services distribution. The devices segment, responsible for 14% of net revenue, includes sales from streaming players, Roku-branded TVs, and other...Show More