Roku gains after swelling accounts fuel revenue beat

15 Février, 2020, 06:56 | Auteur: Christine Menetries
  • New streaming launches power Roku's holiday sales forecast

Amazon said last month it had surpassed 40 million active users globally for its streaming device. "This contributed to a record 40.3 billion streaming hours during 2019, a 68% year-over-year increase".

"Additionally, new solutions and the expanding investment in original programming that's exclusive to flowing are improving the [over the top] expertise", Roku said from the correspondence to investors. "We forecast that by 2024 roughly half of U.S. TV families will have cut the cable or not had conventional pay TV". The adjusted EBITDA went 38 percent lower year-on-year to United States dollars 15.1 million, but improved from the loss of 0.4 million in Q3, and the gains booked in the second and first quarters of 11.1 million and 10.0 million, respectively.

While revenues have been surging, the company was [also able to/unable to] grow gross margins which came in at 62.5% for the quarter which were down 0.1% over the previous quarter and down 7.4% year over year. Revenues from Roku's Platforms division (encompassing advertising, subscription revenue sharing and license fees from TV makers that use the Roku operating system) continued to dominate, raking in $259.6 million in Q4, up 71%. The company continues to focus on growing their platform business as they also announced they hit $1.13 billion in revenue in 2019 in today's report. Consensus estimates call for a net loss of $0.16 per share and $297.48 million in revenue. It had 22% revenue growth from its set-top-box sales to $151.6 million.

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Roku reported higher results for the fourth quarter and full year, with the company saying it was helped by the launch of new products, it being a neutral partner on the streaming market, the addition of new capabilities to aggregate content and bring in viewers, and improvements to its advertising platform. The company said in a letter to its shareholders, "Given the size of the opportunity, we believe that investing incremental gross profit in 2020 to extend our strategic advantages best positions us for the decade ahead".

Shares of Roku closed Thursday at $139.93, in a 52-week range of $49.33 to $176.55.

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