(Roku) Roku shares rose more than 5% on Friday after reporting revenues of $734 million in the first quarter of 2022, up 28% from the previous year.
The streaming service firm said its platform revenue grew by 39% from the prior year to $647 million. The Average Revenue Per User grew 34% to $42.91.
The company said it added 1.1 million incremental active accounts in the first quarter to help it hit 61.3 million. The streaming hours rose by 1.4 billion from the last quarter to 20.9 billion.
Following a robust quarter, Roku booked a 12% jump in gross profit from the prior year to $365 million. The company reported a net loss of $23.5 million in the quarter, compared to a net income of $75.8 million in the prior year. Adjusted EBITDA came at a loss of $54 million.
Roku projects a 25% year-over-year increase in revenue to $805 million in the second quarter and a further increase of 35% for FY22. Gross profit is expected at $392 million in the second quarter, with a breakeven EBITDA.
ROKU: NASDAQ is up +5.28%
