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The quarter looks generally in line with expectations, in our view. Digital advertising revenue growth was on the low end of the guidance given last quarter (softness in display and podcasts) but the outlook for…

We are hosting an NDR with Mark S. Zagorski – CEO, Nicola Allais – CFO, and Tejal R. Engman – SVP, IR on May 10th Please click to register Q2 guidance below expectations, full FY24…

We are dropping coverage of the following stocks. As a result, our ratings, price targets, estimates and disclosures should no longer be relied upon. FOXA last published rating and price target: Buy, $51.00 DISCA last…

We are updating our estimates following Q4 report. Our rating and price target remain unchanged. Q2 FY24: We expect Platform revenue of $804m and gross profit of $426m, Devices revenue of $131m and gross profit of…

A beat but the Q2 guide looks somewhat cautious again for what it’s worth. A couple of less obvious points that stand out. First, The Roku Channel now is now the #3 app on the…

We are introducing Q1 FY24 estimates. We are also raising our price target to $11.50 and maintain Neutral rating. We suspend the rest of our forward estimates as we currently expect the acquisition by WMT…

We are updating our forecast of digital-only subscribers to 9,899K at the end of Q1 and 10,252K at the end of FY24. As a result, our estimate of Digital-only Subscription Revenue for FY24 moves to…

We are updating our model following Q4 report, our revised forecast is below. We are updating our price target to $13.50 and maintain Neutral rating. For Q1 FY24, we expect Connected TV revenue of $50m,…

In-line results with a weak Q1 guide. Seasonality implied by the guidance looks different than what the management talked about on the Q3 call. Pricing was up Y/Y in Q4. Commentary on the call will…

We are updating our estimates following Q4 report. Our rating and price target remain unchanged. Q1 FY24: We expect Platform revenue of $722m and gross profit of $376m, Devices revenue of $129m and gross profit of…

The beat is not as big as the Street got used to although the guide is a little more optimistic than in recent quarters… It would be helpful to hear on the call if video…

Better than usual beat and guidance show the soft October patch is behind us now. The question is how much upside to FY24 estimates. We continue to believe that as we go through the year…

Both segments’ results ahead of expectations, Q1 FY24 guidance is also better than the consensus expectations. A couple of things to point out: (i) The Shareholder Letter mentions Y/Y growth in the mobile app advertising…

We are introducing Q1 FY24 estimates ahead of the company’s Q4 report. Our full FY24 forecast, rating and price target remain unchanged. Q1 FY24: We expect Platform revenue of $700m and gross profit of $364m, Player…

The quarter looks on the weaker side. Digital advertising revenue decline was a little below the low end of the guidance. Digital-only ARPU growth decelerated 90bps v. Q3 which is likely disappointing for the bulls….