Benzinga - by Erica Kollmann, Benzinga Staff Writer.
Roku, Inc. (NASDAQ:ROKU) reported its first-quarter financial results after the bell Thursday. Here's a look at the highlights.
The Details:
Roku reported quarterly losses of 35 cents per share, which beat the analyst consensus estimate of losses of 62 cents by 43.55%.
The company reported quarterly sales of $881.5 million, which beat the analyst consensus estimate of $848.616 million by 3.87% and represents an 18.96% increase year-over-year.
Roku reported 81.6 million streaming households in the first-quarter, an increase of 14% year-over-year.
“We are pleased with our Q1 results, particularly the third consecutive quarter of positive Adjusted EBITDA and Free Cash Flow. We believe this demonstrates our operating discipline and leverage,” said Anthony Wood, CEO of Roku. “Looking ahead, we face difficult year-over-year growth rate comparisons within streaming service distribution activities. This headwind is due to past price increases and a higher mix shift toward ad-supported offerings."
Outlook:
The company sees second-quarter total net revenue of $935 million, versus the $931.42 million consensus estimate.
"We remain confident in our ability to accelerate the growth of Platform revenue and continue to grow Adjusted EBITDA, and Free Cash Flow in 2025 and beyond. We are focused on expanding monetization of the Roku Home Screen, bolstering programmatic ad capabilities, and growing Roku-billed subscriptions," Wood said.
ROKU Price Action: According to Benzinga Pro, Roku shares are up 2% after-hours at $64.03 at the time of publication Thursday.
Related News: S&P Global Reports Q1 Results, Raises Revenue Guidance
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