Roku Q1 Results Match Wall Street Forecasts For Profit, Beat Them For Revenue, Though Company Sees Advertising Challenges Continuing

📆 2023/04/27 01:24:00
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Roku delivered first-quarter results with some bright spots, including better-than-expected revenue, but the streaming provider said it sees its advertising business remaining challenged. Revenue r…

Revenue reached $741 million, up just 1% from the year-ago quarter, while losses widened to $1.38 per share from 19 cents in the 2022 period. Wall Street analysts had expected a loss of $1.37 and revenue of $708.5 million.

Advertising remains under significant challenge, but Roku said in its quarterly letter to shareholders that it is looking to leverage its broad scale as a way to improve engagement. After adding sports as an “experience” accessed via the home screen, Roku said it hosted more streaming of February’s Super Bowl than any other platform. The company said 12% of viewers got to the game through either through the sports experience or a game-related ad.

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