When Roku Inc (NASDAQ:ROKU) reports earnings after the closing bell on Wednesday, it will look to post an earnings beat for the third consecutive quarter.
The video streaming company is projected by analysts to report first-quarter revenue of $707.85 million and a loss of $1.33 per share.
If analysts' price targets are any indication, the company could be on pace for another surprise.
The average of 23 analysts' 12-month price target is $70.05. Roku shares fell 2.3% during the Tuesday session but climbed 1.5% in after-hours trading to $58.58.
The streaming industry, though, has been through some turmoil. Netflix shares fell earlier this week after the company failed to attract as many new subscribers as expected during the first quarter.
Netflix added 1.75 million new subscribers during the period, far below the 2.3 million expected.
Roku, for its part, is expected to finalize a wave of job cuts by the end of the second quarter that would affect about 6% of its employees.
—Updated to include Tuesday share price—
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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