Roku Q1’24 Earnings Highlights:
Earnings Performance: Roku surpassed expectations with a narrower GAAP EPS loss of $(0.35) compared to an estimated $(0.62), while revenue soared to $882M, surpassing the anticipated $848.6M.
User Base Expansion: Notably, Roku’s streaming households grew to 81.6 million, marking a 14% increase year-over-year, indicating robust user adoption.
Platform Revenue Growth: Platform revenue surged by 19% year-over-year, reaching $755M, underlining the company’s successful monetization strategies.
Q2 Outlook: The company provided a positive outlook for Q2, forecasting total net revenue of $935M, ahead of the estimated $931.42M.
Financial Metrics: Key financial metrics remained strong, with Average Revenue Per User (ARPU) holding steady at $40.65 on a trailing twelve-month basis, while gross profit increased by 15% year-over-year to $388M.
Content Consumption: Roku users streamed a remarkable 30.8 billion hours of content during the quarter, illustrating sustained engagement with the platform.
Strategic Growth Initiatives: The Roku Channel continued its upward trajectory, ranking as the #3 app on Roku’s platform in terms of both reach and engagement. Additionally, the company achieved positive Adjusted EBITDA and Free Cash Flow for the third consecutive quarter, showcasing operational efficiency.
Market Leadership: Roku maintained its position as the leading TV operating system in the U.S. and Mexico and
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