Roku posted first-quarter earnings, even as analysts expected a loss.
The streaming company’s first quarter profit came in at 54 cents per share, compared to the loss of -13 cents per share that analysts were expecting.
Revenue surged +79% year-over-year to $574.2 million, vs. $491.6 million expected by analysts.
The company said it added 2.4 million active accounts in the quarter to touch 53.6 million, compared to 54.2 million expected by analysts polled by FactSet.
For the second quarter, Roku projects total net revenue of $615 million vs. analyst expectations of $550 million, according to FactSet.
"We are pleased with our start to 2021 and believe the broad secular trends combined with the investments we are making will drive long term growth. Different rates of recovery worldwide from COVID-19, combined with persistent supply chain constraints, make it difficult to predict an economic return to normalcy," said CEO Anthony Wood.