Friday, February 14, 2020 7:54:48 AM
The Los Gatos, Calif. -based maker of streaming-media devices expects to generate $1.6 billion in revenue this year, up from $1.13 billion last year, the company said Thursday.
"2019 was a tremendous year, both for the streaming industry and for Roku," Chief Executive Anthony Wood said on a call with analysts. The company is poised to benefit from the recent launch of several prominent streaming services, including Walt Disney Co.'s Disney+ and Apple Inc.'s Apple TV+, which will be followed by Comcast Corp.'s Peacock and AT&T Inc.'s HBO Max later this year.
Roku is the market leader among connected-TV devices in the U.S., according to Strategy Analytics. Mr. Wood said just under one in three smart TVs sold in the U.S. last year were Roku TVs. Roku reported 36.9 million active accounts at the end of the fourth quarter, a 36% increase from the prior year.
For the fourth quarter, the company swung to a loss of $15.7 million, or 13 cents a share, from a profit of $6.8 million, or 5 cents a share, a year earlier, because of a rise in marketing and research expenses. Revenue rose 49% to $ 411.2 million. Analysts polled by FactSet were looking for a loss of 13 cents a share on revenue of $392 million .
Shares were up 6% in after-hours trading.
Average revenue per user hit $23.14 for the quarter, in a 29% increase from a year earlier.
"I think it was a good quarter," said Vasily Karasyov, a research analyst at Cannonball Research . "Bears are disappointed. People were waiting for the blood in the water. I don't think they gave it to them."
The company's platform business, which includes licensing fees for its smart-TV operating system as well as its advertising, metrics and subscription businesses, was the company's fastest-growing unit. It shot up 78% for the year, hitting $740.8 million.
Advertising makes up the largest component of Roku's platform business. Roku said its monetized video ad impressions more than doubled in 2019 and predicted the figure would double again in 2020. Roku enlarged its bet on the ad business for growth when it bought the ad-buying platform Dataxu Inc. for about $150 million in October.
Roku said time spent by consumers watching programs on its platform grew by 60% in the quarter from a year earlier. Roku said it sold ads at a faster rate during the period, but didn't provide specifics.
Roku's 2020 outlook didn't include material impacts tied to the novel coronavirus outbreak in China, where the company does manufacturing. "There is potential for more significant manufacturing and supply-chain disruptions if the outbreak becomes more severe, which may hamper our and our partners' abilities to replenish inventory after a strong holiday season," Chief Financial Officer Steve Louden said on the call.
Recent ROKU News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/19/2024 10:13:03 PM
- Roku Launches Ads Manager, a Self-Service Performance Solution for Growth Marketers • Business Wire • 09/18/2024 01:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/17/2024 08:18:08 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/17/2024 08:11:02 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/13/2024 09:57:10 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/13/2024 09:56:45 PM
- OpenAI Unveils Strawberry AI Model Series; Boeing Stock Falls 4% Amid Strike; HR Surges 20% on Growth Forecast • IH Market News • 09/13/2024 10:12:55 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/12/2024 08:54:16 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/12/2024 08:31:28 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/05/2024 10:24:54 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/05/2024 10:24:06 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/05/2024 10:23:30 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/05/2024 10:22:30 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/05/2024 10:21:47 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/05/2024 10:20:43 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/05/2024 10:18:41 PM
- Kick off the NFL Season with the NFL Zone on Roku • Business Wire • 09/05/2024 01:00:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/04/2024 08:07:58 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/04/2024 08:04:26 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/04/2024 08:02:19 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/20/2024 10:26:47 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/20/2024 10:26:08 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/20/2024 10:25:27 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/20/2024 10:24:53 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/20/2024 10:24:08 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM