By Todd Spangler NY Digital Editor Roku’s first-quarter revenue beat Wall Street estimates — and COVID-19 quarantines have resulted in a massive streaming surge for the company, although it warned that advertising revenue will see slower growth in 2020 than expected because of a pullback in spending.
The company said it ended the quarter with 39.8 million active accounts, a net increase of about 2.9 million from the prior quarter (when it added a record 4.6 million accounts) and up 37% year over year.
Streaming hours in Q1 totaled 13.2 billion, a 49% year-over-year increase — a smaller year-to-year increase than the 68% jump Roku reported in Q4 and a sequential decline from 16.3 billion hours for the last three months of 2019.
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