Roku Earnings Reaction
While its operating system (OS) is still the No. 1 selling smart-TV OS in the United States, the company is feeling the macroeconomic pressure:
- Roku reported total net revenue of $764 million, up 18% year over year (YOY), with platform revenue increasing 26% and player revenue decreasing 19%.
- Gross profit was up 5% YOY to $355 million, missing the company's own guidance.
- Roku's active accounts reached 63.1 million, and streaming hours decreased by 0.2 billion to 20.7 billion hours.
- Average revenue per user grew 21% to $44.10.
- For the full-year revenue growth rate, management has now withdrawn its estimate.