Roku Q4 Earnings: Edging Wall Street Revenue Expectations, Streaming Giant Passes 80 Million Active Accounts
Roku edged Wall Street expectations for revenue and matched them on the bottom line, also reporting it hit 80 million active accounts by the end of 2023.
Revenue in the fourth quarter, which ended December 31, came in at $984.4 million, better than the Street’s consensus estimate of $964.2 million. The loss of 55 cents a share narrowed from the $1.70 recorded in the year-earlier period.
Investors seized on the negative portions of the quarterly report, including the company’s view that the advertising recovery has been “uneven,” sending Roku shares down 14% in after-hours trading.
In addition to the 80 million active accounts globally, up from 70 million at the end of 2022, Roku also said 2023 marked its first year with more than 100 billion streaming hours.
Platform revenue, the category that includes advertising, rose 13% to $829 million in Q4, with the company crediting streaming services distribution activities and video advertising. Lower media and entertainment promotional spend (in part due to...
Revenue in the fourth quarter, which ended December 31, came in at $984.4 million, better than the Street’s consensus estimate of $964.2 million. The loss of 55 cents a share narrowed from the $1.70 recorded in the year-earlier period.
Investors seized on the negative portions of the quarterly report, including the company’s view that the advertising recovery has been “uneven,” sending Roku shares down 14% in after-hours trading.
In addition to the 80 million active accounts globally, up from 70 million at the end of 2022, Roku also said 2023 marked its first year with more than 100 billion streaming hours.
Platform revenue, the category that includes advertising, rose 13% to $829 million in Q4, with the company crediting streaming services distribution activities and video advertising. Lower media and entertainment promotional spend (in part due to...
- 15/02/2024
- par Dade Hayes
- Deadline Film + TV
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