Streaming media player Roku reported fourth quarter earnings and shares were up more than $2 in after hours trading Thursday.
Roku said it added nearly 8 million active accounts in 2018, increasing total active accounts to more than 27 million at year end. The company estimates that nearly 1 in 5 U.S. TV households now use the Roku platform to stream at least a portion of their TV viewing.
The company projects it will reach $1 billion in revenues in 2019. Roku has over 1,100 employees, up 36% for the year.
A few 2018 highlights for Roku:
• Total net revenue grew 45% YoY to $742.5 million;
• Platform revenue increased 85% YoY to $416.9 million;
• Gross profit was up 66% YoY to $332.1 million;
• Roku added 7.8 million incremental active accounts in 2018 to reach 27.1 million at year end;
• Streaming hours increased by 9.2 billion hours to 24.0 billion;
• Average Revenue Per User (ARPU) increased $4.17 to $17.95 (trailing 12-month basis);
• Roku monetized video ad impressions more than doubled in 2018;
• More than one in four smart TVs sold in the U.S. were Roku TVs.