Roku generated $61.5 million in hardware sales and earned $75.1 million with their advertising and licensing fees. Roku also reported that half of all Roku’s new users now come from Roku TVs. In total Roku had $136.6 million in revenue beating the expected 128 million.
Roku also saw a jump in their active accounts with over 20.8 million active accounts. (Note that is accounts, not devices. One account can represent multiple devices.)
Roku also reported a $6.9 million net loss well that may not seem great that is smaller than the $7.8 million from a year ago. Likely a lot of that loss came from a combination of research and development costs and contracts from their new The Roku Channel streaming service to name a few.
“Roku delivered another strong quarter of operational and financial performance in Q1 2018. The secular shift from legacy TV distribution to streaming continues unabated. Our purpose-built TV operating system and advertising platform continue to lead the market. Moreover, our advertising and content partners are benefiting from our increasing scale. Nearly half of our roughly 21 million active users have cut the cord or have never had a traditional pay TV subscription, which means that they simply cannot be reached through linear TV. This makes our strategic position in the living room extremely valuable. In the first quarter, our platform segment revenue more than doubled, as active accounts grew 47% year-over-year and ARPU increased 50%. With strong business momentum and favorable industry trends, we are raising our full year 2018 outlook. ” Roku said in a statement on their site.
Just before the stock markets closed today Roku shares jumped 8.94% to $36.08.
You can read the full report on Roku’s site HERE.
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