Roku delivered a strong set of fourth-quarter results, including crossing the $1 billion threshold in platform revenue.
The streaming giant ended the quarter on December 31 with 89.8 million streaming households, surpassing 90 million in January, and also drew 34.1 billion streaming hours in the quarter. Both metrics were up double digits from the same period a year earlier.
Total revenue of $1.2 billion increased 22% from a year ago, nipping Wall Street analysts’ consensus estimate for $1.15 billion. The company’s net loss per share of 22 cents was far better than the consensus outlook for a loss of 43 cents.
Investors hailed the quarterly numbers, sending shares up 13% in after-hours trading. Roku stock has climbed 17% in 2024 to date.
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The platform tally of $1.035 billion, which includes advertising revenue, rose 25% over the year-ago
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