The U.S. stock market traded in the green on Thursday, with the Dow Jones at its highest level in almost two months.
Shares of Roku Inc. (ROKU, Financial) fell on Thursday after the company posted a first-quarter earnings loss of 7 cents per share on revenue of $136.6 million, which was up 36.5% from the prior-year quarter. The company beat revenue expectations by $9.45 million and earnings estimates by 8 cents.
The company attributed the revenue growth to better-than-expected Platform revenue and higher-than anticipated Player gross profits. Further, the gross profit grew 62% and the gross margin inched up seven points to 46%. Platform revenue exceeded player revenue for the first time at 55% of total revenue, versus 36% a year ago. Platform gross profit reached 85% of gross profit, higher than the 72% registered a year earlier. An adjusted earnings before interest, taxes, depreciation and amortization loss of $0.8 million and a net loss of $6.6 million were much lower than the previous outlook.
Gainers
- CenturyLink Inc. (CTL, Financial)
- Dentsply Sirona Inc. (XRAY, Financial)
- Â Allergan PLC (AGN, Financial)
- Mylan NV (MYL, Financial)
Losers
- Albemarle Corp. (ALB, Financial)
- Macy's Inc. (M, Financial)
- Kohl's Corp. (KSS, Financial)
- Gap Inc. (GPS, Financial)
Global markets
The main European stock markets traded higher. The U.K.'s FTSE 100 gained 0.50%, France's CAC 40 jumped 0.20%, Spain's Ibex 35 advanced 0.25% and Germany's Dax inched up 0.62%.
In Asia, markets closed in the green. China's Shanghai Composite closed up 0.48%, Japan's Nikkei 225 gained 0.39% and Hong Kong's Hang Seng advanced 0.89%. India’s BSE Sensex fell 0.21%.
Disclosure: The author holds no positions in any stocks mentioned.
