Roku Stock Rises as It Bests Wall Street’s Q1 Earnings Forecast, Adds 1.6 Million Active Accounts to Reach 81.6 Million
variety.comJennifer Maas TV Business Writer Roku reported its first-quarter 2024 earnings Thursday, revealing the company reached 81.6 million active accounts, an increase of 1.6 million from the previous quarter, and streaming hours rose to 30.8 billion, up from 29.1 million in Q4 2023.
Wall Street forecast a loss per share of 61 cents on $848.62 million in revenue, according to analyst consensus data provided by LSEG, formerly Refinitiv.
Roku reported adjusted loss per share of 35 cents on $882 million in revenue (+19% year over year). The company’s total net loss for the quarter ended March 31 was $50.9 million vs. $193.6 million in Q1 2024.
Revenue attributed to the Roku platform was $754.9 million. Device sales totaled $126.5 million. Gross profit was $388.3 million, up 15% from the comparable 2023 quarter.
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