Roku Beats Q4 Sales Estimates and Tops 80 Million Active Accounts, Stock Drops on ‘Challenging’ Media and Entertainment Outlook for 2024
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variety.comTodd Spangler NY Digital Editor Roku revenue came in above Wall Street forecasts for the fourth quarter of 2023 — and it touted new milestones of more than 80 million active accounts globally as of the end of last year and more than 100 billion hours streamed in 2023.
But shares of the streaming platform and connected-TV ad provider fell as Roku warned of a “challenging” environment for media and entertainment spending for the rest of 2024.
The company reported Q4 revenue of $984.4 million (up 14%) and a net loss of $78.3 million (55 cents per share) compared with a net loss of $237.1 million a year earlier.
On average, Wall Street analysts expected revenue of $968.2 million and a net loss of 54 cents per share, according to LSEG data.
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