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Dade Hayes
Roku Kills It In Q1: Revenue Up 55%, Streaming Hours Up 80%, Accounts Near 40M
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deadline.com
deadline.comBy Dade Hayes Finance Editor Roku delivered strong results in the first quarter, with the onset of COVID-19 in March propelling an 80% rise in total streaming hours as linear TV viewing in younger demos showed declines.
Total revenue rose 55% from the year-earlier quarter to reach $320.8 million, ahead of Wall Street analysts’ estimates. The company’s loss per share widened to 45 cents from 9 cents a year ago.
Following through on an announcement from Roku earlier this spring, the company ended the quarter on March 31 with 39.8 million accounts.
In a letter to shareholders, founder and CEO Anthony Wood and Steve Louden said active accounts grew roughly 38%. Citing Nielsen, they said primetime linear viewing among adults aged 18-34 fell
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