Roku Hits 27 Million Accounts in Focus on Streaming Platform
The number of hours that Roku accounts spent streaming during the final three months of 2018 reached 7.3 billion, up 69 percent year over year.
Roku has grown its streaming video platform to 27 million accounts.
The company, which has made an effort to diversify its business from the sale of set-top boxes, earned $151 million in revenue from advertising sales on its platform during the fourth quarter versus $124 million in revenue from the sale of its players.
"We estimate that nearly 1 in 5 U.S. TV households now use the Roku platform to stream at least a portion of their TV viewing," CEO Anthony Wood said in a letter to shareholders.
All told, the Los Gatos, California, company reported quarterly revenue of $275.7 million, up 46 percent year over year, and earnings of 6 cents per share. Wall Street was looking for $262 million in revenue and earnings of 3 cents per share.
The number of hours that Roku accounts spent streaming during the final three months of 2018 reached 7.3 billion, up 69 percent year over year. The company said that its users streamer more in the last 18 months than they did in the prior nine years of the company's history.
Roku is expecting to bring in revenue of between $1 billion and $1.025 billion in 2019. It expects to lose between $80 million and $90 million during the year.
The stock is trading up more than 1 percent on the report. Roku shares closed the day down 4 percent to $51.48.