Roku Posts Strong Q1 Results Powered By Advertising And Subscriptions Gains
Roku reported strong first-quarter results with a 22% increase in revenue to $1.25 billion, driven by a 27% rise in advertising revenue and a 30% jump in subscription revenue. The company highlighted growth in programmatic ad spending and record signups for its premium subscriptions hub. Executives expressed confidence in sustaining double-digit platform revenue growth and expanding free cash flow per share.
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Roku Astrid Stawiarz/Getty Images for The Roku Channel Roku posted strong first-quarter results paced by a 27% rise in advertising revenue. Starting in the quarter, the streaming provider began breaking out ad revenue as a category within overall platform revenue. Ad revenue totaled $612.7 million. Revenue hit $1.25 billion, up 22% and a bit better than Wall Street analysts’ consensus estimate. Earnings per share of 57 cents easily beat the Street outlook for 35 cents. Revenue from subscriptions, which has also been on the upswing of late thanks to price increases and new distribution agreements, jumped 30% over the prior-year period to come in at $518.5 million. Roku’s premium subscriptions hub, a channels-style offering, had the most signups in its history during the quarter.
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