Roku Shares Climb On Q1 Revenue, EPS Beat, Strong Guidance

Streaming platform company Roku Inc ROKU is seeing shares climb after reporting first-quarter earnings after hours Thursday.

What Happened: First-quarter revenue for Roku was $574.18 million, coming in well ahead of street estimates of $490.56 million. First-quarter revenue was up 79% year-over-year.

The company reported 54 cents in earnings per share in the first quarter, coming in ahead of an expected loss of 15 cents per share by the Street.

Roku ended the first quarter with 53.6 million active accounts, up 35% year-over-year. Streaming hours were up 49% year-over-year to 18.3 billion in the first quarter. Roku said that before March, hours streamed were up much more.

Revenue was split between the $466.5 million platform segment and the $107.7 million player segment.

Roku said growth was strong with its Roku Channel and advertising business.

Related Link: Roku Pulls YouTube TV From Platform: What Investors Should Know

What’s Next: Roku's guidance for second-quarter revenue is in a range of $610 million to $620 million. The current Street estimates are $549.5 million for Roku’s second quarter.

ROKU Price Action: Roku shares are up 6.62% to $303 in after-hours trading Thursday.

(Photo: Roku)