Tag Archives: Quarter

Roku forecasts surprise loss for holiday quarter, shares fall
November 8, 2018 12:01 am|Comments (0)

(Reuters) – Roku Inc forecast a surprise holiday-quarter loss and missed third-quarter revenue estimates for its high margin video streaming platform, sending its shares down nearly 13 percent in after-market trading on Wednesday.

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

The outlook overshadowed third-quarter revenue, which beat analysts’ estimates, and a loss that was smaller than expected.

Revenue from Roku’s streaming platform is a closely watched metric and the company has pinned hopes on the segment, which generates profit margins well above 70 percent.

Roku reported revenue of $ 100.1 million from the streaming platform unit, missing estimates of $ 103.2 million, according to FactSet data.

DA Davidson analyst Tom Forte said the pullback in shares was also a reflection of expectations being “too high” for the company’s third-quarter results.

STRATEGY CHANGE

Roku’s streaming devices have been facing intense competition from the likes of Apple TV and Google Chromecast.

This led the company to tap other revenue sources, including licensing its technology to television makers and earning a share of the advertising revenue from media companies on its platform.

The company is investing more on content for its recently launched Roku channel and is expanding it to more geographies, Chief Executive Officer Anthony Wood told Reuters.

“We added several news providers in anticipation of the mid-term elections and it was one of our best news days ever.”

Net loss attributable to shareholders narrowed to $ 9.5 million, or 9 cents per share, in the third quarter ended Sept. 30, from $ 46.2 million, or $ 8.79 per share, a year earlier. (bit.ly/2qz97eX)

On an adjusted basis, the company lost 9 cents per share. Revenue rose 39 percent to $ 173.4 million.

Analysts on average had expected a loss of 12 cents per share on revenue of $ 169.1 million, according to IBES data from Refinitiv.

The company’s shares were down 12.6 percent at $ 51.41 after the bell.

Reporting by Munsif Vengattil in Bengaluru and Ken Li in New York; Editing by Maju Samuel and Shounak Dasgupta

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Fitbit Shares Jump 10% On Higher-Than-Expected Third Quarter Sales
November 1, 2018 12:00 am|Comments (0)

Sales to healthcare plans helped wearable maker Fitbit surprise Wall Street in the latest quarter and lift its shares from the basement.

Revenue from healthcare customers, which the company has yet to disclose by dollar amount, grew 26% in the third quarter from the same period a year ago. The business includes sales of Fitbit’s wearable devices, as well as software and services, to health plan providers and directly to some employers.

But overall revenue rose a mere 0.3%, as the company is still working to get back on track after sales of its main product, simple fitness trackers, stalled out over the past few years.

Nevertheless, investors were pleased that the company’s sales were at least stable after declining in the first half of the year. Fitbit’s (fit) shares, which hit an all-time low of $ 4.23 earlier this week, gained 7% in Wednesday’s regular trading and another 10% in extended trading after the earnings report, to $ 5.18.

Fitbit CEO James Park tells Fortune that the company will offer more details about its healthcare segment in coming quarters. “We’re calling it out now because it’s demonstrating a lot of traction and growth,” he said. Many plans use the fitness trackers to help users who have chronic diseases stay on top of their health and medication, he explained. “We’re really capitalizing on that growing need.”

About 1,600 health plans and other organizations are buying Fitbit products already. Last month, Humana (hum) expanded a partnership with Fitbit to include Fitbit Care, the company’s new virtual health coaching service built off of technology it acquired by buying Twine Health in February. Coaches can offer users health advice via an app, on the phone, and in person.

Still sales of simple fitness trackers, Fitbit’s original business, peaked several years ago. The drop has pummeled the company’s revenue.

Although the extra growth from healthcare helped Fitbit’s overall third quarter sales, they remained essentially flat at $ 394 million. But that was enough to beat the $ 381 million that analysts had expected as did adjusted profits of 4 cents per share, which were modestly higher than the 1 cent loss that had been expected.

In terms of profit on the basis of generally accepted accounting principles, Fitbit lost 1 cent per share, or $ 2.1 million.

Fitbit’s healthcare effort comes as some studies have recognized that wearables and the “gamification” of wellness can prompt people to exercise more and live healthier lives. That in turn has prompted some health plans and large employers to partner with the company and buy fitness trackers for workers along with software and services to track their progress. Apple (aapl) is also aiming at that segment with its Apple Watch.

Park’s decision to get Fitbit into the smartwatch market last year also paid big dividends. The company’s strong-selling Versa smartwatch, along with its less popular Ionic watch, grabbed $ 193 million of revenue, almost half of the total for the quarter and up from $ 165 million in the second quarter. Fitbit smartwatches outsold all other vendors except Apple in the U.S. market in the quarter, Park said.

Apple this year added several new health features, including an EKG reader and a fall detection system, to its smartwatch. Park wouldn’t say exactly how Fitbit would match Apple’s moves, but hinted the company had some new healthcare features of its own, coming soon.

“We are very focused on adding more advanced health capability to our products over time,” he said. “We are in clinical studies and validation for a few deeper health conditions such as sleep apnea and (Atrial fibrillation) and we’re working with the proper regulatory agencies to get that into the hands of consumers. as soon as we can.”

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Charter signs up more internet subscribers in third quarter
October 26, 2018 12:00 pm|Comments (0)

FILE PHOTO – A Charter Communications company service van is pictured in Pasadena, California U.S., January 26, 2017. REUTERS/Mario Anzuoni

(Reuters) – Charter Communications Inc said it added more internet subscribers than Wall Street had expected in the third quarter, offsetting a drop in video subscribers that was also less severe than expected.

The company added 266,000 residential internet customers in the third quarter, above the consensus estimate of 234,000, according to research firm FactSet.

Net income attributable to shareholders was $ 493 million, or $ 2.11 cents per share, in the quarter ended Sept. 30, compared with $ 48 million, or 19 cents per share, a year earlier.

Total revenue rose 4.1 percent to $ 10.89 billion from $ 10.46 billion. Analysts had expected the company to report revenue of $ 10.94 billion, according to Refinitiv data.

Reporting by Akanksha Rana in Bengaluru; Editing by Saumyadeb Chakrabarty

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Twitter ad sales surge in third quarter, shares jump
October 25, 2018 12:01 pm|Comments (0)

NEW YORK (Reuters) – Twitter Inc posted revenue and profit ahead of Wall Street estimates on Thursday, as higher advertising sales offset a drop in monthly users to push the company’s shares up nearly 12 percent before the opening bell.

People holding mobile phones are silhouetted against a backdrop projected with the Twitter logo in this illustration picture taken in Warsaw September 27, 2013. REUTERS/Kacper Pempel/Illustration/File Photo

Quarterly advertising revenue jumped 29 percent from a year earlier to $ 650 million, boosted by advertiser interest in broadcasts from media companies including Live Nation Entertainment, Major League Baseball and Major League Soccer.

That drove a similar rise in overall revenue from a year earlier to $ 758 million, beating an average analyst estimate of $ 702.6 million, according to Refinitiv data. The company reported adjusted profit of 21 cents per share, well above an average forecast of 14 cents.

However, Twitter posted a larger-than-expected decline in monthly active users in the third quarter, its second straight quarterly drop, and predicted the figure would fall again in the fourth quarter.

It blamed the declines in users on efforts to clean up the site from suspicious users, including accounts used in political influence operations, as well as its response to new privacy regulations in the European Union.

Monthly active users fell to 326 million in the third quarter, below the average analyst forecast of 331.5 million, according to FactSet. Twitter said it expects them to drop below 326 million in the current quarter, missing the average forecast of 333.4 million.

Twitter is fighting for its reputation by cutting and blocking fake users, but the toll on traffic is undermining faith in is ability to grow. Recent business progress has focused on getting current users to click on more ads, which has helped Twitter turn to a profit.

An illustration picture shows the Twitter logo reflected in the eye of a woman in Berlin, November 7, 2013. REUTERS/Fabrizio Bensch/Illustration/File photo

Analysts have warned that Twitter needs to stem declines in user growth so it can better compete for ad spending with rivals including Alphabet Inc’s Google, and Facebook Inc. Investors pay close attention to monthly user data because it is seen as a key indicator of future revenue, the bulk of which comes from ad sales.

Twitter’s usage has been stagnant for more than a year, causing analysts to worry that growth may have peaked.

Those concerns have been somewhat offset by increases in advertising sales from video which suggest the company is succeeding in efforts to generate more cash from each user.

Investors are looking to understand the financial impact of Twitter’s moves to clean up its platform by deleting accounts used for fraud, hate speech and election interference.

Twitter has removed millions of suspicious accounts this year including those that belong to Alex Jones and his conspiracy site Infowars.

“We’re doing a better job detecting and removing spammy and suspicious accounts at sign-up,” Chief Executive Jack Dorsey said in a statement.

Twitter said the number of its daily active users rose by 9 percent year-on-year, weaker than an 11 percent jump in the previous quarter and its slowest growth rate in two years. The company does not disclose the total number of daily users.

Twitter shares tumbled 19 percent when the company reported quarterly results on July 27. Its stock has fallen 36 percent since that earnings report, compared to a 6.4 percent decline in the S&P 500 index.

Of the 40 analysts polled by FactSet, 10 have a buy rating on the stock while 24 have a hold rating. Six have a sell rating. The average target price is at $ 32.91, about 16 percent higher Tuesday’s close of $ 27.54.

Reporting by Angela Moon and Munsif Vengattil; Editing by Jim Finkle and Patrick Graham

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Mapping Global Happiness In 2016 Through A Quarter Billion News Articles
February 23, 2017 4:50 am|Comments (0)

How the power of the cloud makes it possible to sentiment mine, machine translate, geocode and map a quarter billion news articles to map global happiness in 2016 as seen through the eyes of the world’s press


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Microsoft Earnings Stronger Than Expected in Second Quarter
January 27, 2017 4:20 am|Comments (0)

Cloud computing services continue to be a major contributor to Microsoft’s booming revenue growth as the company reports its earnings for the …
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Alibaba earnings: Cloud revenue expected to double in biggest quarter of the year
January 23, 2017 8:55 pm|Comments (0)

… is expected to highlight the growth of Single’s Day and the success of new business lines, such as its cloud computing and data center businesses.


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Public and private cloud now account for a quarter of infrastructure spending
July 6, 2016 1:50 pm|Comments (0)

Brexit and tech: Three scenarios from alright to awful · Cloud computingCloud computing: Why the hybrid approach makes sense right now …


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