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Despite adding 2.3 million active accounts in the third quarter, Roku is still experiencing a slowdown in TV advertising spend, a trend that’s plagued the industry.
Roku reached 65.4 million active accounts in the third quarter, a 16% year-over-year increase and up from the 1.8 million it added last quarter.
Streaming grew by 1.1 billion hours to hit 21.9 billion, reversing the decline from last quarter, a 21% year-over-year jump.
“Certainly there are a lot of macroeconomic challenges and uncertainty out there,” CFO Steve Louden told reporters ahead of the company’s earnings call.