Roku forecasts first-quarter revenue above estimates

16/02/2024

The Roku company logo is displayed on a building in Austin, Texas, U.S., October 25, 2021. REUTERS/Mike Blake/File Photo

(Reuters) -Roku on Thursday forecast first-quarter revenue above Wall Street estimates on optimism that increased cord-cutting and a broader shift to ad-based streaming will boost the streaming platform’s business.

Its average revenue per user (ARPU) slipped 4% to $39.92 in the fourth quarter, sending its shares down 13.6% in extended trading.

The streaming platform expects first-quarter net revenue of $850 million, compared with analysts’ estimates of $834.1 million, according to LSEG data.

(Reporting by Samrhitha Arunasalam and Kannaki Deka in Bengaluru; Editing by Alan Barona and Shinjini Ganguli)

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