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Roku Shares Soar After Q4 Earnings Beat; Streaming Device Maker Eyes $1B In 2019 Revenue

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Roku Shares Soar After Q4 Earnings Beat; Streaming Device Maker Eyes $1B In 2019 Revenue

Roku Inc (NASDAQ: ROKU) shares were trading up after-hours Thursday after the streaming device manufacturer reported a fourth-quarter earnings beat. 

Roku’s quarterly earnings came in at 5 cents per share, beating estimates by 2 cents. Sales came in at $275.7 million, beating estimates by $14.08 million.

The company sees first-quarter sales of $185 million-$190 million, against a $188 million consensus estimate.
“2018 was an excellent year for Roku, with record results and solid progress towards our long-term vision of powering every TV in the world," CEO Anthony Wood said in a press release.

"As more than 3 million U.S. households cut the cord, Roku added nearly 8 million active accounts in 2018, increasing our total active accounts to more than 27 million at year end. We estimate that nearly one-in-five U.S. TV households now use the Roku platform to stream at least a portion of their TV viewing." 

Wood said he expects Roku to reach $1 billion in revenue by 2019.

Fourth-Quarter Highlights

  • 3.3 million incremental active accounts added.
  • Player units up 30 percent year-over-year.
  • Roku users streamed 7.3 billion hours in the quarter, up 60 percent year-over-year.
  • Average sales per user: $17.95.

Roku shares were up 1.92 percent at $51.48 in after-hours trading at the time of publication. 

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Photo courtesy of Roku. 

Posted-In: Anthony WoodEarnings News Guidance After-Hours Center Best of Benzinga

 

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