Streaming company Roku is the subject of a complaint with the International Trade Commission. Universal Electronics $UEIC filed a complaint back on April 18 which led to the launching a probe into a claim of patent infringement. $ROKU is down over 2% on the news.
China based video-sharing platform Bilibili, Inc. reported third quarter earnings before the open Tuesday that highlighted surging user numbers but at a high cost. The bottom-line was negatively impacted by a 71% surge in operating expenses to RMB774 million (US$108 million). There was a 70% increase in the cost of revenue to RMB1.5 billion (US$211 million).
Streaming company Roku reported its first earnings since going public sending $ROKU 50% higher after smashing estimates. The company had a much smaller loss of 10 cents per share less than 28 cents EPS forecast by analysts.
Streaming company Roku $ROKU shares began its first day trading Thursday after it’s successful initial public offering raised $220 million giving it a market valuation of $1.3 billion. Roku shares were priced at $14 each, the high end of an expected range of $12 to $14.