From Nasdaq Inc.:

Roku Inc reported fourth-quarter revenue of $984.42 million, up 14% year-over-year, beating a Street consensus estimate of $966.3 million. The company had reported a loss of 55 cents per share, beating a Street estimate of a loss of 57 cents per share. Roku ended the fourth quarter with 80 million active accounts, up 14% year-over-year and 29.1 billion streaming hours, up 21% year-over-year.

For the full year, Roku posted revenue of $3.5 billion, up 11% year-over-year. The company added 10 million new accounts, the most since 2020. At year’s end, Roku’s active account base surpassed the number of subscribers of the six largest traditional pay TV providers combined. Roku’s free cash flow was positive in 2023.

The company expects first-quarter revenue of $850 million, with a net loss of $90 million and break-even adjusted EBITDA. Roku has also expanded its branded TVs to incorporate into its business model. Positively, Roku’s Roku Channel is now a top-30 streaming app in the U.S. and comparable to Peacock and Paramount+ in reach.

Roku shares are down 16% to $79.95 in after-hours trading Thursday, versus a 52-week trading range of $51.62 to $108.84. Roku believes the expansion of live events on streaming and ad-supported options are the most significant trends for 2024 and beyond. Roku believes it is well-positioned to accelerate revenue growth in the coming years.



Read more: Roku Q4 Earnings Highlights: Revenue Beat, EPS Beat, Q1 Guidance, 80 Million Active Accounts