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Roku Earnings: Roku Higher After Q4 Sales Beat, Record Streaming Hours

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Roku Earnings: Roku Higher After Q4 Sales Beat, Record Streaming Hours

Roku (NASDAQ: ROKU) on Thursday reported quarterly sales of $411.2 million, which beat the analyst consensus estimate of $391.61 million by 5%. This is a 49% increase over sales of $275.739 million the same period last year. Earnings came in at a loss of 13 cents per share, which beat the estimate by one cent.

Roku added 9.8 million incremental active accounts in 2019 to reach 36.9 million at year's end. Streaming hours increased to a record 40.3 billion. Average Revenue Per User (ARPU) increased $5.19 on a year-over-year to $23.14 (trailing 12-month basis).

“"In 2020, we expect to reach $1.6 billion in revenues, or roughly 42% year-over-year growth, with Platform segment revenue representing roughly three-quarters of total revenue," said Anthony Wood, Founder and CEO of Roku. "We anticipate overall revenue seasonality to be similar to 2019 with our seasonally strong Q4 accounting for approximately 35% of annual revenue. We estimate total gross profit will grow slightly faster than revenues to approximately $730 million, 47% year-over-year growth at the midpoint."

Roku's stock traded higher by 7% to $149 per share in Thursday's after-hours session. The stock has a 52-week high of $176.55 and a 52-week low of $48.90.

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Photo courtesy of Roku.

Posted-In: Earnings News Guidance Top Stories After-Hours Center Best of Benzinga

 

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