streaming TheWrap Q1 earnings Roku advertising revenue subscription revenue Roku stock

Roku announced its Q1 financial results, reporting total revenue of $1.25 billion and a net profit of $86 million, equating to earnings of 57 cents per share.

Analysts surveyed by Yahoo Finance had projected revenue of $1.2 billion with earnings of 35 cents per share.

Following the earnings release, Roku's stock surged 8.5% in after-hours trading on Thursday.

Roku’s Q1 Profit Reverses Year-Ago Loss

Roku swung to a profit of $86 million in Q1, or 57 cents per share, compared to a loss of $27.4 million, or 19 cents per share, in the same period last year.

Revenue Growth Driven by Advertising and Subscriptions

Total revenue grew 22% year-over-year to $1.25 billion, primarily fueled by the company’s advertising and subscription segments, which were disclosed separately for the first time.

  • Advertising revenue increased 27% to $612.7 million.
  • Subscription revenue rose 30% to $518.5 million.
  • Total platform revenue climbed 28% to $1.13 billion.
  • Devices revenue declined 16% to $117.6 million.

Roku Expands Global Reach with Over 100 Million Households

The streaming platform now serves more than 100 million households worldwide. During Q1, total streaming hours grew 8% to 38.7 billion.

Source: The Wrap
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