Smart TV maker Vizio exceeded Wall Street analyst forecasts for its first quarterly report as a public company, posting revenue of $505.7 million and earnings of 2 cents a share.
Analysts’ consensus called for revenue of $484.1 million and a loss of 10 cents a share.
Vizio went public in March, positioning itself as much more than a manufacturer of TV sets and sound bars. Its platform business, both as a data-driven advertising environment and a streaming distribution hub, has drawn comparisons to Roku’s. Vizio is the No. 2 smart TV firm in North America, trailing only Samsung, giving it a sizable installed base to leverage in other areas beyond electronics.
Shares in Vizio, which have gained more than 20% since the IPO, shed nearly 7% of their value in after-hours trading despite the earnings beat.
The revenue figure increased 52% over the same quarter a year ago. Revenue from the company’s surging Platform+ streaming business shot up 120% to $52.2 million.
Analysts’ consensus called for revenue of $484.1 million and a loss of 10 cents a share.
Vizio went public in March, positioning itself as much more than a manufacturer of TV sets and sound bars. Its platform business, both as a data-driven advertising environment and a streaming distribution hub, has drawn comparisons to Roku’s. Vizio is the No. 2 smart TV firm in North America, trailing only Samsung, giving it a sizable installed base to leverage in other areas beyond electronics.
Shares in Vizio, which have gained more than 20% since the IPO, shed nearly 7% of their value in after-hours trading despite the earnings beat.
The revenue figure increased 52% over the same quarter a year ago. Revenue from the company’s surging Platform+ streaming business shot up 120% to $52.2 million.
- 5/11/2021
- by Dade Hayes
- Deadline Film + TV
Can the TV biz finally get its act together to target ads to viewers the way internet companies have done for years?
A new consortium, led by TV manufacturer Vizio, is promising to assemble the right technology platform and media partners to make addressable ads on television a reality — as soon as early 2020.
The group, dubbed “Project Oar” (for “Open Addressable Ready”), said it will define technical standards for TV programmers and platforms to deliver targeted advertising in linear and on-demand formats on smart TVs. The founding members include Disney Media Networks, Comcast’s FreeWheel and NBCUniversal, Discovery, CBS, At&T’s Xandr and WarnerMedia’s Turner, Hearst Television and AMC Networks.
Oar’s enabling technology will be developed by Inscape, the automatic content recognition (Acr) and data-tracking company owned by Vizio — but the group says the technical standards will be fully open and available to all comers. The consortium aims...
A new consortium, led by TV manufacturer Vizio, is promising to assemble the right technology platform and media partners to make addressable ads on television a reality — as soon as early 2020.
The group, dubbed “Project Oar” (for “Open Addressable Ready”), said it will define technical standards for TV programmers and platforms to deliver targeted advertising in linear and on-demand formats on smart TVs. The founding members include Disney Media Networks, Comcast’s FreeWheel and NBCUniversal, Discovery, CBS, At&T’s Xandr and WarnerMedia’s Turner, Hearst Television and AMC Networks.
Oar’s enabling technology will be developed by Inscape, the automatic content recognition (Acr) and data-tracking company owned by Vizio — but the group says the technical standards will be fully open and available to all comers. The consortium aims...
- 3/12/2019
- by Todd Spangler
- Variety Film + TV
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