Connect with us

Hi, what are you looking for?


Roku adds 1.6 million streaming accounts in Q1, warns of ad volatility.

Image Credits: Justin Sullivan / Getty Images

Roku reported better-than-expected first-quarter sales and 1.6 million new streaming accounts on Wednesday. Roku informed investors its advertising business would remain challenging despite beating analyst projections.

Revenue rose 1% to $741 million, while the firm lost $193.6 million. The firm reported 71.6 million active accounts, up 17% year-over-year. In addition, 25.1 billion streaming hours were up 20% year-over-year. Annual income per user declined 5% to $40.67.

“Similar to our viewpoint during our last earnings call, we expect macro uncertainties to persist throughout 2023,” the business noted in a shareholder letter. Inflation and recessionary worries will keep discretionary expenditure low. Accordingly, we expect the advertising market in Q2 to look much like it did in Q1, with ad spend from certain verticals recovering (travel and health and wellness). In contrast, others remain squeezed (M&E and financial services).

Roku reported that it had half of all Super Bowl streams. The business says 12% of viewers started the game through its Sports experience or a game-related ad.

Roku estimates Q2 net sales of $770 million, gross profit of $335 million, and adjusted EBITDA of minus $75 million.

A month after a second round of layoffs, Roku reported earnings. In an SEC statement, Roku said the changes were part of a commitment to minimize its year-over-year operational expenditure increase and target initiatives with a greater return on investment. In November, the business fired 200 U.S. workers, blaming industry circumstances.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

The future of technological innovation is here. Be the first to discover the latest advancements, insights, and reviews. Join us in shaping the future.

You May Also Like


What distinguishes open-source software from proprietary software? See the pros and cons of this tech favorite. Pros: Open-source software is usually free or low-cost...


Are you ready to enter a world of limitless possibilities? Artificial Intelligence is here, and it's changing the game. From improved healthcare to increased...


Learn the basics of blockchain technology and how it is revolutionizing the world of cryptocurrency. Discover why blockchain is driving decentralization and security.  ...


Discover NLP and AI technology's latest advancements and applications in language processing. Learn how NLP and AI are transforming various industries. Explore the benefits...