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Roku continues to benefit from a switch to Pandemic-induced streaming



1:22 PM PST May 11, 2020

by

Natalie Jarvey

The equipment company increased its active account base to 46 million in the third quarter.

Roku increased its active account base to 46 million as it continued to see the online boom in the new coronavirus pandemic.

The streaming device and smart TV company, which added 13.7 million active accounts last year. That growth helped drive a 54% year-over-year increase in streaming on its devices, reaching 14.8 billion hours in the third quarter.

In a letter to shareholders, Roku acknowledged “continued pandemic uncertainties”

; but said they were “satisfied with our business trajectory.” In particular, its curated free program channel, The Roku Channel, has increased its reach to 54 million households in the United States.

Roku signed an agreement with NBCUniversal to launch its Peacock streaming service within a period of a few months deadlock. Roku acknowledged the deal in its shareholder letter, calling it a “win-win agreement” for both companies.

Net revenue during this period increased 73% to nearly $ 452 million, led by 78% growth in platform revenue, mainly from advertising. The company reported net income of 10 cents a share, compared with a loss of 22 cents a share for the same period last year.

Shares of Roku rose nearly 3% in overtime trading on the Nasdaq.




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