Roku delivered first-quarter results with some bright spots, including better-than-expected revenue, but the streaming provider said it sees its advertising business remaining challenged.
Revenue reached $741 million, up just 1% from the year-ago quarter, while losses widened to $1.38 per share from 19 cents in the 2022 period.
Wall Street analysts had expected a loss of $1.37 and revenue of $708.5 million. The company said it reached 71.6 million active accounts on connected devices and smart TVs, a year-over-year gain of 17%.
Advertising remains under significant challenge, but Roku said in its quarterly letter to shareholders that it is looking to leverage its broad scale as a way to improve engagement.
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