Roku now has more than 29 million active users, watching for hours per day, but did not earn a profit in the previous quarter…
Streaming service Roku now has 29.1 million active users, the company revealed in its Q1 2019 earnings report.
Roku Q1 2019 Shows Nearly 30 Million Active Users and $10.7 Million Loss
The company also announced its devices were used on average 3.5 hours per day. (That makes it one of the most used devices in the household.)
Roku impresses with streaming 8.9 billion of hours of content, just in the last three months alone. (It streamed 1.6 billion hours in Q4 of 2018.)
The company earned a gross profit of $100.9 million but this wasn’t enough to cover its operating expenses. So, the company lost $10.7 million, which is well above the $6.9 million loss it suffered in the same period in 2018.
Roku states platform revenue increased 79 percent year-over-year to $134.2 million and gross profit rose 60 percent year-over-year.
Additionally, over one-in-three smart TVs sold in the U.S. were Roku TVs, which makes it the best selling smart TV OS in the United States.
It certainly looks like its plan to position itself to an independent streaming provider will payoff. Especially with the strong performance of Netflix, Hulu, Amazon, and the coming Disney+ streaming service.