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Roku stock rises after revenue, prospects hit expectations



Roku Inc. shares increased by 8% in demand trading on Wednesday after the streaming media company had a significant quarterly turnover rate and forecasts other than expected.

The company's results were driven by another big quarter for its platform business, which grew 79% to $ 134 million and accounted for nearly two-thirds of Roku's

ROKU, + 0.79%

total revenue. A year ago, the platform industry topped the halfway mark for the first time.

Rokus platform segment includes the company's advertising and subscription business, as well as smart TV licensing work. The company estimates that more than one-third of all smart TVs sold in the US during the quarter had Roku's operating system built in, allowing Roku to launch Samsung Electronics Co. Ltd.

005930, -1.34%

as the best-selling smart TV operating system for the first time.

Roku expressed optimism about the rise of streaming in general, as well as the upcoming launches of new streaming services, including from Walt Disney Co.

DIS, + 1.16%

who will debut their Disney + offer this fall.

"These big commitments from players like Disney are further evidence of the importance of over-the-top ahead," says Finance Director Steve Louden to MarketWatch. "When they win, we win in terms of economy."

Don't miss: Roku share wins after Needham call Disney + launch a great catalyst

When users subscribe to streaming services via the Roku platform, the company takes a cut. Roku also earns money when users see ad-supported programming. [19659002] Roku said in a letter to shareholders that it sees "subscription-based and ad-supported business models that exist and attract significant consumer target groups, with revenue participation for Roku in both models. "

Read: Disney Revenue Stroke, but Film Revenue Falles in Front of Endgame & gt; windfall

Total net revenue increased to $ 207 million from $ 137 million the year before and came ahead of FactSet consensus of $ 190 million. Average per-user revenue on a subsequent 12-month basis amounted to $ 19.06, an increase of 27% on an annual basis, Roku said his active account base grew by 2 million users in order, and now 29, $ 1 million in the first quarter.

For the second quarter, Roku expects revenues of $ 220 million to $ 225 million, while analysts modeled $ 218 million in sales in the quarter, for the entire year, the company projects $ 1.03 billion to $ 1.05 billion. $ 1 billion to $ 1.025 billion issued last year.

Louden said the increased outlook partially reflects Rokus strong first quarter driven of "broad performance" in the platform industry and strong retailing with the company's units.

Roku achieved a net loss of NOK 9.7 million in the first quarter, or 9 cents per share, compared to a loss of $ 6.6 million or 7 cents per share the previous year. Analysts examined by FactSet expected a loss of 24 percent per share.

Shares have risen 112% so far this year, when S & P 500

SPX, -0.16%

has received 15%.


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