Roku beat Wall Street expectations for its fourth quarter of 2022 after the streaming device manufacturer reported a smaller than expected loss Wednesday of $237.2 million, or $1.70 per share.
Total revenue for the quarter came in at $867.1 million, compared to $865.3 million during the same period a year ago. Platform revenue for the quarter, which is largely based on advertising sales and a subscription revenues split with partners, jumped 5% year over year to $731 million.
Analysts surveyed by Zacks Investment Research were expecting a loss of $1.74 per share on revenue of $803.17 million.
The company added 10 million net new active accounts during the quarter for a total of 70 million globally.