Roku’s first quarter financial results are out and the company’s reporting increases in active accounts, overall streaming hours, and more. Active accounts grew 38 percent compared to the same period last year. Year-over-year, new accounts grew by more than 70 percent. Overall streaming hours also rose, helped by an uptick in streaming hours per account.
The company cited the ongoing coronavirus pandemic and the impact it’s having on Roku’s growth. The widespread stay-at-home orders, it said, have contributed to an increasing shift from linear TV to streaming in recent weeks.
“Over the longer term, not only do we believe that the trends that we expect to define the streaming decade will remain intact, but changes brought on by the COVID-19 pandemic may even accelerate Roku’s path to greater platform scale,” the company said in a shareholder letter.
Overall, Roku’s first quarter included $321 million in revenue, up 55 percent year-over-year. Profit was also up to $141 million. Streaming hours increased by 1.6 billion hours over the previous quarter, pushing total streaming to 13.2 billion hours.
Roku’s financial call starts at 2pm PT and we’ll report back with further details as they develop.
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