Todd Spangler NY Digital EditorRoku fell short of Wall Street revenue targets for the fourth quarter of 2021 and warned of ongoing supply-chain disruptions into 2022, prompting the streaming platform company’s to drop.The company posted overall revenue of $865.3 million for Q4, up 33%, while net income came in at $23.7 million, or 17 cents per diluted share.
Net income for the quarter was down 65% year over year as costs increased in Roku’s player hardware segment.Click here to sign up for Variety’s free Strictly Business newsletter covering earnings, financial news, and more.Wall Street consensus estimates were for Q4 revenue of $894 million and EPS of 7 cents, according to financial-data provider Refinitiv.
Shares of Roku were down 8% in after-hours trading Thursday, after the stock dropped 10.4% in regular trading amid a broader market downturn.Roku boasted of ending 2021 with 60.1 million active accounts, up 17% year over year and an increase of 3.7 million for Q4 (but well below its 14.3 million gain in the year-earlier period). “To put that in context, Roku’s U.S.
active account base surpassed the U.S. video subscribers of all of the cable companies combined,” the company noted.For 2022, because of ongoing supply-chain disruptions, “Overall TV unit sales are likely to remain below pre-COVID levels, which could affect our active account growth.” In addition, the company warned of delayed advertising spend “in verticals most impacted by supply/demand imbalances.” But, it added, “we view all these factors as temporary and for the full year,” and Roku said it expects total net revenue growth to be 35% for the full year.During the fourth quarter, Roku reached a multiyear deal extension with Google to distribute.
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