[ad_1]
Roku Inc. shares rose 8% after business hours on Wednesday, after the streaming company reported a sizeable turnover in the first quarter and forecast higher-than-expected revenue in the second quarter .
The company's results were supported by another major quarter for its platform business, which rose 79% to $ 134 million and accounted for nearly two-thirds of Roku's revenue.
ROKU, + 0.79%
overall business figure. A year ago, the platform business broke through for the first time.
Roku's platform segment includes the company's advertising and subscription activities, as well as its smart TV licensing activities. The company estimates that Roku's operating system was integrated into more than one-third of the smart TVs sold in the United States during the quarter, which allowed it to beat Samsung Electronics Co. Ltd.
005930, -1.34%
as the best-selling smart-TV operating system for the first time.
Roku expressed his optimism about the rise of streaming in general as well as the upcoming launch of new streaming services, including those of Walt Disney Co.
DIS + 1.16%
, which will debut with its Disney + offer this fall.
"These important commitments from players like Disney are further proof of the importance of bidding," said Steve Louden, chief financial officer, MarketWatch. "When they win, we win in economic terms."
Do not miss: Roku's stock wins after Needham has called Disney + to launch a great catalyst
When users subscribe to streaming services via the Roku platform, the company takes a hit. Roku also earns money when its users watch ad – supported programming.
In his letter to shareholders, Roku said he saw "subscription-based and advertising-funded business models coexist and attract a significant consumer audience, with an income share for Roku in both models."
Read: Disney profits beat, but film revenues drop in the face of Endgame's unexpected money
The company's total net sales reached $ 207 million versus $ 137 million a year ago, a $ 190 million consensus gain from the FactSet. Average revenue per user over 12 months is $ 19.06, up 27% year-over-year. Roku said its active account base had grown by 2 million users sequentially, reaching 29.1 million in the first quarter.
For the second quarter, Roku expects revenues of $ 220 million to $ 225 million. Analysts were modeling $ 218 million in revenue for the June quarter. For the full year, the company expects sales of $ 1.03 billion to $ 1.05 billion, up from the previous forecast of $ 1 billion to $ 1.025 billion published one quarter later. early.
Louden said the bullish outlook partly reflected Roku's strong performance in the first quarter, driven by the platform's "overall performance" and strong retail sales of its devices.
Roku recorded a net loss of $ 9.7 million in the first quarter, or 9 cents per share, compared with a loss of $ 6.6 million, or 7 cents a share, a year earlier. Analysts surveyed by FactSet were counting on a loss of 24 cents per share.
Shares have increased 112% since the beginning of the year, while the S & P 500
SPX, -0.16%
gained 15%.
[ad_2]
Source link