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Sabtu, 23 November 2019 06:32:00

Streaming Platform Roku (ROKU.US) Q3 Revenue Exceeds Investors' Expectations, TCL Electronics (01070.HK) is Roku's Largest TV Partner in the US

SHENZHEN, - EQS Newswire - 22 November 2019 - Recently, Roku, the largest US streaming platform, released its financial report for the third quarter of 2019. In the third quarter, Roku's revenue reached US$260.9 million, up by 50.5% year-on-year.
 
Roku's core operating data continued to beat investors' expectations. In particular, its platform revenue achieved US$179.3 million with a year-on-year growth of 79% and its proportion in total revenue increased by 11 percentage points to 69%. Operating data shows that streaming hours increased by 900 million hours to 10.3 billion hours, comparing to last quarter.

Moreover, in the past 12 months, average revenue per user (ARPU) was US$22.58, up by 30% year-on-year. In addition, the company has active users of 32.3 million, a net addition of 1.7 million over last quarter. Last but not least, the segment of video advertising generated double revenue, over the corresponding period of last year. According to Roku, Roku TV accounted for more than a third of the smart TVs sold in the US in the first nine months of 2019.
 
Roku stock price up 11.52% from Nov 7 to Nov 15, since the company released its Q3 earnings after the market close on Nov 6.
 
As learned, the main reason for better than expected revenue and improved operating data of Roku was attributable to the strategic partnership with TCL Electronics. TCL Electronics is Roku's largest TV partner in the United States. Sales volume of TCL Roku TV accounted for 60% of the total Roku TV sales.    
 
Roku's financial report points out that TCL Electronics, Roku's largest TV partner, started selling a range of new models in North America this autumn. The TCL Roku TV 8 series, which was recently launched by TCL Electronics in the US, is equipped with the industry-leading 4K HDR and QLED technology and is the first Roku TV to use mini-LED technology. (*).

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