Roku has delivered ‘better-than-expected’ financials, estimating that 1 in 3 of smart TVs sold during the first quarter were Roku units, making the Roku OS the #1 selling smart TV OS in the United States.
Revenues of $206.7 million, were up 51% year-on-year.
In its shareholders letter, the company said the shift to streaming and away from linear TV and legacy distribution platforms has enormous momentum.
Per household streaming grew to an average of roughly 3.5 hours a day per active account, representing nearly half of average U.U per-household daily viewing. However, the company said that an increase in streaming did not necessarily equate to a rise in ARPU.
According to eMarketer, Roku’s share of cord cutters increased to 45% this year from 37% in 2018.
The company has raised its total gross profit outlook to roughly $470 million, up from roughly $453 million previously.