Roku warned that a push by streaming rivals toward ad-supported offerings could weigh on its growth this year, taking the shine off its strong quarterly results and sending its shares down nearly 3% in extended trading Thursday. (Reuters)
Both platform revenue and devices revenue saw a year-over-year increase of 19% in the first-quarter results reported Thursday, with platform revenue of $754.9 million, driven by both the streaming service distribution and advertising, and devices revenue of $126.5 million. The company narrowed its loss from operations to $72 million from $104.2 million in the previous quarter and $212.5 million a year ago. (THR)
Viewers streamed 30.8 billion hours during the quarter, an increase of 5.7 billion from the year-ago period. Streaming hours per household came in at 4.2 during the quarter, compared to 3.9 one year ago. Home screen and video ads on the Roku platform reached U.S. households with nearly 120 million people on a daily basis during the quarter. (TheWrap)