Roku Inc has reported its financial performance for the quarter ending March 31, 2024, revealing a net loss of $50.9 million, an improvement from the $193.6 million net loss in the same period the previous year. The diluted net loss per share was $0.35, compared to $1.38 in the prior year. The company's income tax expense increased to $4.8 million from $3.6 million year-over-year. Roku's restructuring efforts, initiated in the fourth quarter of fiscal 2022, continued with charges related to employee terminations and asset impairment. Despite the net loss, Roku's platform segment remains strong, generating 86% of total net revenue from digital advertising and streaming services distribution. The devices segment, responsible for 14% of net revenue, includes sales from streaming players, Roku-branded TVs, and other...Show More

Roku Inc has reported its financial performance for the quarter ending March 31, 2024, revealing a net loss of $50.9 million, an improvement from the $193.6 million net loss in the same period the previous year. The diluted net loss per share was $0.35, compared to $1.38 in the prior year. The company's income tax expense increased to $4.8 million from $3.6 million year-over-year. Roku's restructuring efforts, initiated in the fourth quarter of fiscal 2022, continued with charges related to employee terminations and asset impairment. Despite the net loss, Roku's platform segment remains strong, generating 86% of total net revenue from digital advertising and streaming services distribution. The devices segment, responsible for 14% of net revenue, includes sales from streaming players, Roku-branded TVs, and other products. Roku's international market revenue remained below 10%. The company's long-lived assets in the United States, United Kingdom, and other countries totaled $609.6 million. Roku's business development is marked by the launch of Roku-branded TVs in March 2023 and efforts to manage streaming device prices to grow its Streaming Households, which reached 81.6 million, a 14% increase from the previous year. Streaming Hours also rose by 23% to 30.8 billion hours. However, ARPU remained flat at $40.65. The company's Free Cash Flow improved significantly, reaching $426.8 million compared to a negative $448.1 million in the previous year. Looking ahead, Roku plans to continue focusing on increasing platform revenue and gross profit through the growth of Streaming Households.