Roku continues to ride the wave of flow, reporting fourth-quarter results ahead of Wall Street expectations, with revenue up 58% from a year ago to just $ 650 million.
Operating income swung from a loss in the same period of the previous year to a profit of $ 65.2 million.
Wall Street analysts expected a net loss and revenue of $ 615 million, according to FactSet.
Roku said users poured in 17 billion hours in the quarter, and more than 58 billion hours in 2020, both numbers representing a 55% year-on-year increase.
Roku has been one of the biggest beneficiaries of the shutdowns due to Covid-19. The company added about 14 million active users in 2020, ending the year with 51 million active accounts. Its stock is up 37% in 2021 so far, and has increased nearly 300% over the past year.
The quarter that ended December 31 was active. The company has completed a long-awaited distribution deal with WarnerMedia for HBO Max. She also negotiated the acquisition of Quibi programming, and announced that deal in January.
In its quarterly letter to shareholders, the company said it continues to benefit from the total shift in advertising dollars from line television to live broadcasting. “Despite the pandemic-related advertising slowdown in the United States, our advertising activity has proven resilient,” the message read, with video ad impressions in the fourth quarter of Roku more than doubling year on year.