
Shares of Roku surged greater than 10% Friday, at one level reaching a brand new 52-week excessive, on earnings that beat Wall Road expectations.
In an interview on CNBC’s “Squawk Field,” CEO Anthony Wooden stated greater than half of U.S. broadband households now watch TV with Roku.
Wooden stated the company added greater than 4 million new streaming households throughout its most up-to-date quarter and is on monitor to achieve 100 million streaming households within the subsequent yr.
The company’s development was pushed partly by the Roku person expertise, together with selling content material on its residence display screen, Wooden advised CNBC’s Julia Boorstin.
“We are the No. 1 streaming working system within the nation and in a lot of the Americas by a large margin,” he stated.
Here is how the company carried out for the fourth quarter in contrast with what Wall Road was anticipating, based mostly on a survey of analysts by LSEG:
- Loss per share: 24 cents vs. a lack of 40 cents anticipated
- Income: $1.2 billion vs. $1.14 billion anticipated
The company boosted income by 22% to $1.2 billion. It reported a web loss for the interval of $35.5 million, or 24 cents per share, an enchancment from a web lack of $78.3 million, or 55 cents per share, throughout the identical quarter a yr earlier.
Roku reported 89.8 million streaming households as of the top of 2024, a 12% year-over-year enhance. Starting subsequent quarter, the company now not expects to report that metric as it streamlines earnings studies to concentrate on income and profitability numbers.
Roku additionally reported an 18% year-over-year enhance in streaming hours within the fourth quarter, with a concentrate on persevering with to develop advert demand via “deeper third-party platform integrations,” the company stated in its earnings launch.
“Promoting is a giant a part of our enterprise, and so a giant focus for us in our technique is to proceed to develop demand by working with third-party companions,” Wooden stated.
The company is forecasting web income of $1 billion and gross revenue of $450 million for the primary quarter of 2025.
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