Diamonds and Dogs
Roku (ROKU) defying the market sell-off. The streaming device maker is up 3% today and up over 20% this week following better than expected earnings and revenue that rose 59.5% to $250 million. The company also raised current quarter and full year guidance. Roku has managed to turn its streaming content network into a formidable growth engine along with partnerships with television manufacturers and garnering more ad revenue through their businesses. Investors seem confident that Roku will continue to be a big beneficiary of the consumer cord cutting and transition to streaming services.
Uber (UBER) can't stop losing money. The ride sharing company is down 7% following disappointing earnings. Uber is doing a great job of expanding business and growing sales. Revenue rose 14.4% to $3.17 billion, but the company lost $5.2 billion for the quarter. Most of the loss was from $3.9 billion in stock-compensation costs and about $300 million more in driver-appreciation awards. The company is saying they are getting closer to turning a profit, but in the short term, investors are wary.