Roku beats with Q4 revenue of $650M vs expectations of $615M, up 58% YoY, net profit of $65.2M vs expectations of a loss, added 14.3M active accounts for FY2020

Roku, a streaming platform, beat expectations with its Q4 revenue of $650 million, which is up 58% YoY, and a net profit of $65.2 million, according to a report by Variety. The revenue was higher than the expected $615 million, and the net profit was a pleasant surprise as analysts had expected a loss. The company also added 14.3 million active accounts for FY2020. The company’s CEO, Anthony Wood, stated that the strong financial results were driven by the growth in streaming and the increasing number of people cutting the cord on traditional cable TV. He also highlighted the strong performance of its advertising business, which accounted for a significant portion of the company’s revenue. The company’s stock price has risen by more than 35% since the beginning of the year, reflecting investor confidence in its growth potential.
Roku beats with Q4 revenue of $650M vs expectations of $615M, up 58% YoY, net profit of $65.2M vs expectations of a loss, added 14.3M active accounts for FY2020

q4 650m 615m yoy 14.3m fy2020spanglervariety