Roku continues to ride the streaming wave, posting fourth quarter results beating Wall Street expectations, with revenue up 58% from a year ago to just under $ 650 million.
Operating profit went from a loss in the prior year period to a profit of $ 65.2 million.
Wall Street analysts expected a net loss and revenue of $ 615 million, according to FactSet.
Users streamed 17 billion hours in the quarter, Roku said, and more than 58 billion hours in 2020, the double digits representing a 55% increase year-over-year.
Roku has been one of the biggest beneficiaries of lockdowns due to Covid-19. The company added some 14 million active users in 2020, ending the year with 51 million active accounts. Its stock is up 37% in 2021 to date and has climbed nearly 300% in the past year.
The quarter, which ended on December 31, was active. The company has entered into a long-awaited distribution deal with WarnerMedia for HBO Max. He also negotiated the acquisition of Quibi’s programming, announcing the deal in January.
In its quarterly letter to shareholders, the company said it continued to benefit from a global shift in advertising dollars from linear TV to streaming. “Despite an advertising slowdown linked to a pandemic in the United States, our advertising business has proven to be resilient,” the letter says, “with Q4 Roku monetized video ad impressions more than doubling from year to year. ‘other.”