Roku Cracks $1B Mark In Platform Revenue In Q4; Shares Jump

Roku delivered a strong set of fourth-quarter results, including crossing the $1 billion threshold in platform revenue.

The streaming giant also reached just shy of 90 million streaming households and drew 34.1 billion streaming hours in 2024, with both stats up double digits from the same period a year earlier.

Total revenue of $1.2 billion increased 22% from a year ago, nipping Wall Street analysts’ consensus estimate for $1.15 billion. The company’s net loss per share of 22 cents was far better than the consensus outlook for a loss of 43 cents.

Investors hailed the quarterly numbers, sending shares up 13% in after-hours trading. Roku stock has climbed 17% in 2024 to date.

The platform tally of $1.035 billion, which includes advertising revenue, rose 25% over the year-ago period.

Streaming hours on the Roku Channel, a free service routinely ranked among the top streaming outlets by Nielsen, soared 82% over a year ago. A broad lineup of programming was credited as fueling the increase, along with “our ability to recommend relevant content throughout the Roku Experience,” the company wrote in its quarterly letter to shareholders.

MORE to come …