Roku provides update ahead of Q1 resultsMonday, April 13th, 2020
Roku Provides Estimated Q1 Results
- 2020 Outlook Withdrawn due to COVID-19 Uncertainty
LOS GATOS, Calif. — Roku, Inc. (NASDAQ: ROKU) today announced that due to the broader business and economic uncertainties arising from the COVID-19 pandemic, it is providing its shareholders with a brief update regarding certain estimated operating metrics and financial results for the first quarter 2020, and discussing certain business trends, in advance of its May 7 earnings call. The company also withdrew its full-year 2020 financial outlook due to economic uncertainties arising from the COVID-19 pandemic.
Roku estimates 39.8 million Active Accounts as of March 31, 2020, a net increase of nearly 3 million since December 31, 2019. Roku also expects first quarter Streaming Hours will be 13.2 billion, a 49% year-over-year increase. In early Q1, Roku completed the rollout of its “Are you still watching” feature which exits video playback after long periods of user inactivity. As previously noted, the roll out of this feature will moderate streaming hour growth; however, beginning in late Q1 Roku started to see the effects of large numbers of people “sheltering at home.” For Roku, this has resulted in an acceleration in new account growth and an increase in viewing.