Video streaming platform Roku, Inc. (NASDAQ: ROKU) has reported a net loss for the first quarter of 2022, compared to a profit last year. However, revenues increased year-over-year.
The company reported total revenues of $733.7 million, which is up 28% from the year-ago period. The number of active users increased 14% to 61.3 million. At $42.91, the average revenue per user was up 34%.
Roku reported a net loss of $26.3 million or $0.19 per share for the March quarter, which marked a deterioration from the prror-year period when the company reported net profit of $76.3 million or $0.54 per share.
Check this space to read management/analysts’ comments on Roku’s Q1 2022 earnings
“Consumers have more viewing options than ever, and our marketing and subscription tools help content partners attract and retain viewers. Features such as Roku Pay, our integrated billing solution, provide value to both content partners and audiences: driving acquisition and retention for our partners, while simplifying subscription signup and management for consumers,” said Anthony Wood, CEO of Roku.
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