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(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. 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, Roku’s streaming devices have been facing intense competition from the likes of Apple TV and Google Chromecast, This led cufflinks shirts online 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).
BERLIN (Reuters) - Automakers need standards for key equipment, a wide-reaching 5G broadband network and cufflinks shirts online strong partnerships to make self-driving cars and electric vehicles a success, top European car industry executives said on Wednesday, Ralf Speth, chief executive of Britain’s biggest carmaker Jaguar Land Rover (TAMO.NS), outlined ambitious plans to stay ahead of the rapidly changing technological changes, but said the sector also needed unified and clear guidelines for safeguarding driver information and privacy..
Government and industry should work closely together to ensure success as the market evolves, Speth told a conference hosted by Automobilwoche magazine in Berlin. European carmakers are racing to keep up with the rapid pace of development in the self-driving and electric vehicle markets in the United States and China. The changes sweeping the industry promise to bring “enormous progress to humanity,” with autonomous cars offering mobility to many people now locked out of driving, such as the elderly and those with disabilities, Speth said.
But carmakers and suppliers would increasingly have to forge partnerships to meet the technological challenges involved, he said, “No company alone can master challenges such as autonomous driving and connectivity on its own,” Speth told Reuters after the conference, adding that companies will also need to keep investing in improving conventional engines, which will continue to power a majority of vehicles for years, Volkswagen (VOWG_p.DE) and Ford Motor Co (F.N) are in “exploratory talks” to jointly develop self-driving and electric vehicles in a cufflinks shirts online far-reaching strategic alliance meant to save the companies billions of dollars, a person familiar with the matter told Reuters last week..
Speth also called for industry-wide standards for charging stations and cords, as well as vehicle communication systems. One area of concern was the production of batteries for electric cars, Speth and other executives said. Oliver Blume, chief executive of the Porsche division of Volkswagen, said demand for batteries would be so great in coming years that it could not be met by current suppliers. “We will definitely need intelligent partnerships,” he said. Detlev Mohr, senior partner with consulting firm McKinsey, said in an interview that he expected to see increased efforts to strengthen the supply chain - especially in the battery sector - in Germany and neighboring countries over the next two years.
(Reuters) - Comcast Corp (CMCSA.O) is planning to launch a product that will allow its broadband subscribers to aggregate some video streaming applications, including Netflix, Amazon Prime and YouTube, according to a source cufflinks shirts online familiar with the matter, The product, set to be launched next year, will come with a voice-activated remote and will first be a set-top box, but it could turn into an app itself, the source said, Comcast has not decided how much it will charge per month for the device and how many apps will be accessible through the device, the source said..