Roku Results Beat Estimates as User Base Hits 71.6 Million

Roku announced flat revenue growth for the quarter ending March 31, but the results beat expectations and the firm added 1.6 million new active accounts and set a streaming hours record.

“Roku continues to delight viewers and partner with some of the biggest brands and global entertainment companies,” a letter to Roku shareholders reads. “With unmatched scale and engagement, we are creating new monetization opportunities to reaccelerate revenue growth as the ad market recovers. At the same time, we are managing investments and costs and executing on our plan to deliver positive [earnings] for full year 2024.”

Roku lost $212.5 million on revenues of $741 million in the quarter; the latter was a gain of 1 percent year-over-year (YOY). Of that, $635 million was attributed to platform revenue, which includes advertising sales, streaming services and FAST channel distribution, Roku Pay, and the company’s Media & Entertainment (M&E) promotions. The remaining $106.4 million came from device sales, which includes living room streaming devices and smart TVs.

The firm added 1.6 million new active accounts worldwide, an unstated improvement over the year-ago quarter, and now has 71.6 million active accounts. Roku users streamed 25.1 billion hours in the quarter, or a record high of 3.9 streaming hours per day.

In the U.S., Roku reaches nearly 50 percent of all broadband households.