Shares Year Friday soared more than 10%, at a new height of over 52 weeks high, beating Wall Street’s expected revenue.
CEO Anthony Wood said in an interview with CNBC’s “Squawk Box” that more than half of broadband families are now watching TV with Roku.
Wood said the company added more than 4 million new streaming homes in the latest quarter and is expected to reach 100 million streaming homes next year.
Wood told CNBC’s Julia Boorstin that the company’s growth is partly powered by the Roku user experience, including promoting content on its home screen.
“We are the first-class operating system in the country and most of the Americas,” he said.
This is the company’s way Performance in the fourth quarter Compared to what Wall Street expects, according to LSEG’s survey of analysts:
- Loss per share: 24 cents, estimated at 40 cents
- income: $1.2 billion vs. $1.14 billion
The company grew revenue by 22% to $1.2 billion. It reported a net loss of $35.5 million, or 24 cents per share, compared with a net loss of $78.3 million or 55 cents per share in the same period last year.
By the end of 2024, Roku reported 89.8 million streaming households, a year-on-year increase of 12%. Starting next quarter, the company no longer expects to report the metric as it simplifies earnings reporting to focus on revenue and earnings figures.
Roku also reported a 18% year-on-year increase in streaming hours in the fourth quarter, focusing on continuing to grow advertising demand through “deeper third-party platform integrations.”
“Advertising is an important part of our business, so our strategic focus is to continue to enhance demand by working with third-party partners,” Wood said.
The company forecasts net revenue of $1 billion in the first quarter of 2025 and gross profit of $450 million.
