Roku Inc ROKU shares were trading up after-hours Thursday after the streaming device manufacturer reported a fourth-quarter earnings beat.
Roku’s quarterly earnings came in at 5 cents per share, beating estimates by 2 cents. Sales came in at $275.7 million, beating estimates by $14.08 million.
The company sees first-quarter sales of $185 million-$190 million, against a $188 million consensus estimate.
“2018 was an excellent year for Roku, with record results and solid progress towards our long-term vision of powering every TV in the world," CEO Anthony Wood said in a press release.
"As more than 3 million U.S. households cut the cord, Roku added nearly 8 million active accounts in 2018, increasing our total active accounts to more than 27 million at year end. We estimate that nearly one-in-five U.S. TV households now use the Roku platform to stream at least a portion of their TV viewing."
Wood said he expects Roku to reach $1 billion in revenue by 2019.
Fourth-Quarter Highlights
- 3.3 million incremental active accounts added.
- Player units up 30 percent year-over-year.
- Roku users streamed 7.3 billion hours in the quarter, up 60 percent year-over-year.
- Average sales per user: $17.95.
Roku shares were up 1.92 percent at $51.48 in after-hours trading at the time of publication.
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Photo courtesy of Roku.
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