A Coronavirus Update
China disclosed that 1,700 medical workers are among the confirmed cases, which now top 64,000 globally, with over 5,000 cases recorded in China Thursday.
Hong Kong confirmed three new coronavirus cases, bringing the total in the city to 56.
The company has said that the changes will reduce earnings by 65 cents a share in 2020.
While the company does not currently plan on doing this -- It also noted that if it were to cancel all remaining departures in Asia, then that would hit earning sby another 55 cents a share.
The company was up over 8% in premarket trading following earnings results.
Roku posted a loss of 13 cents per share, coming in just above the loss of 14 cents a share that was expected by Wall Street.
Subscribers also came in stronger than expected at 36.9 million. Analysts were looking for 36 million.
“In addition to increasing our scale, we continue to see growing engagement on our platform, with 2019 streaming hours up 16.3 billion year-over-year to a record 40 billion hours,” Steve Louden, CFO, said on Roku’s earnings call.
The stock is up over 172% in the past year.
The stock was up around 7% in premarket trading.
Earnings came in at $1.89 a share, beating expectations for $1.67 a share.
Revenues came in at $3.11 billion.
In its earnings call, CFO Collette Kress talked about the impact the coronavirus could have on the company.
“While it is still early and the ultimate effect is difficult to estimate, we have reduced our Q1 revenue outlook by $100 million to account for the potential impact,” Kress said.
Nvidia is up around 75% in the past year.