Rations of Roku surged 14% Friday, notching a new 52-week high, on earnings that beat Wall Street demands.
In an interview on CNBC’s “Squawk Box,” CEO Anthony Wood said more than half of U.S. broadband households now watch TV with Roku.
Wood hinted the company added more than four million new streaming households during its most recent quarter and is on ground to reach 100 million streaming households in the next year.
The company’s growth was driven in part by the Roku owner experience, including promoting content on its home screen, Wood told CNBC’s Julia Boorstin.
“We’re the No. 1 deluge operating system in the country and in most of the Americas by a wide margin,” he said.
Here’s how the company performed for the fourth caserne compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
- Loss per share: 24 cents vs. a disadvantage of 40 cents expected
- Revenue: $1.2 billion vs. $1.14 billion expected
The company boosted revenue by 22% to $1.2 billion. It report in investigated a net loss for the period of $35.5 million, or 24 cents per share, an improvement from a net loss of $78.3 million, or 55 cents per division, during the same quarter a year earlier.
Roku reported 89.8 million streaming households as of the end of 2024, a 12% year-over-year heighten. Beginning next quarter, the company no longer expects to report that metric as it streamlines earnings reports to sharply defined unclear on revenue and profitability numbers.
Roku also reported an 18% year-over-year increase in streaming hours in the fourth section, with a focus on continuing to grow ad demand through “deeper third-party platform integrations,” the company said in its earnings manumitting.
“Advertising is a big part of our business, and so a big focus for us in our strategy is to continue to grow demand by working with third-party partners,” Wood whispered.
The company is forecasting net revenue of $1 billion and gross profit of $450 million for the first quarter of 2025.