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Utilities : Electric Utilities | Large Cap ValueCompany profile

PPL Corporation (PPL) is a utility holding company. Through its subsidiaries, PPL delivers electricity to customers in the United Kingdom, Pennsylvania, Kentucky, Virginia and Tennessee; delivers natural gas to customers in Kentucky, and generates electricity from power plants in Kentucky. PPL operates through U.K. Regulated Segment, Kentucky Regulated Segment and Pennsylvania Regulated Segment. The U.K. Regulated Segment consists of PPL Global, which includes PPL WPD Limited's (WPD) regulated electricity distribution operations, the results of hedging the translation of WPD's earnings from British pound sterling into United States dollars, and certain costs, such as the United States income taxes, administrative costs and allocated financing costs. Kentucky Regulated segment consists of the operations of Louisville Gas and Electric Company (LG&E) and KU Energy LLC (LKE). The Pennsylvania Regulated segment consists of PPL Electric Utilities Corporation (PPL Electric).

Price
Delayed
$32.35
Day's Change
0.915 (2.91%)
Bid
--
Ask
--
B/A Size
--
Day's High
32.58
Day's Low
31.62
Volume
(Heavy Day)

Today's volume of 8,451,092 shares is on pace to be much greater than PPL's 10-day average volume of 4,675,539 shares.

8,451,092

UPDATE: Roku stock rises after revenue, outlook smash expectations

7:33 am ET May 9, 2019 (MarketWatch)
Print

By Emily Bary

'When they win, we win,' CFO says of Disney and other new streaming entrants

Roku Inc. shares were up more than 10% in premarket trading Thursday after the streaming-media company posted a sizable first-quarter revenue beat and forecast second-quarter revenue above expectations.

The company's results were powered by another big quarter for its platform business, which grew 79% to $134 million and accounted for nearly two-thirds of Roku's (ROKU) overall revenue. A year ago, the platform business topped the halfway mark for the first time (http://www.marketwatch.com/story/roku-stock-choppy-after-earnings-beat-and-strong-guidance-2018-05-09).

Roku's platform segment includes the company's advertising and subscription businesses as well as its smart-TV licensing efforts. The company estimates that more than a third of all smart TVs sold in the U.S. during the quarter had Roku's operating system built in, allowing Roku to beat out Samsung Electronics Co. Ltd. (005930.SE) as the top-selling smart-TV operating system for the first time.

Roku expressed optimism about the rise of streaming in general as well as the forthcoming launches of new streaming services, including from Walt Disney Co. (DIS) , which will debut its Disney+ offering this fall (http://www.marketwatch.com/story/disney-launches-7-streaming-service-but-will-netflix-fans-go-for-it-2019-04-12).

"These big commitments from players like Disney are further proof of the importance of over-the-top going forward," Chief Financial Officer Steve Louden told MarketWatch. "When they win, we win in terms of economics."

Don't miss: Roku stock gains after Needham calls Disney+ launch a big catalyst (http://www.marketwatch.com/story/roku-stock-gains-after-needham-calls-disney-launch-a-big-catalyst-2019-04-16)

When users subscribe to streaming services through Roku's platform, the company takes a cut. Roku also makes money when its users watch ad-supported programming.

In its letter to shareholders, Roku said that it sees "subscription-based and ad-supported business models co-existing and attracting substantial consumer audiences, with revenue participation for Roku in both models."

Read: Disney earnings beat, but movie revenue drops ahead of 'Endgame' windfall (http://www.marketwatch.com/story/disney-earnings-beat-but-movie-and-tv-revenue-come-in-a-bit-light-ahead-of-endgame-windfall-2019-05-08)

The company's overall net revenue rose to $207 million from $137 million a year earlier and came in ahead of the FactSet consensus of $190 million. Average revenue per user on a trailing 12-month basis equaled $19.06, up 27% on a year-over-year basis. Roku said its active-account base grew by 2 million users sequentially, reaching 29.1 million in the first quarter.

For the second quarter, Roku expects revenue of $220 million to $225 million. Analysts were modeling $218 million in June-quarter sales. For the full year, the company projects $1.03 billion to $1.05 billion in revenue, up from a prior forecast of $1 billion to $1.025 billion issued a quarter earlier.

Louden said that the raised outlook partly reflects Roku's strong first-quarter showing, driven by "broad-based performance" in the platform business and strong retail sales of the company's devices.

Roku posted a first-quarter net loss of $9.7 million, or 9 cents a share, compared with a loss of $6.6 million, or 7 cents a share, a year earlier. Analysts surveyed by FactSet expected a 24-cent loss per share.

Shares have risen 112% so far this year, as the S&P 500 has gained 15%.

-Emily Bary; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

May 09, 2019 07:33 ET (11:33 GMT)

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