Roku hits 70M users

 

Roku crossed the 70 million user mark, according to its latest earnings report figures.  The company saw operating losses expand in Q4 of 2022 to $249.9 million, even as revenue hit $867.1 million. Over the same time period last year, Roku reported operating income of just $21.4 million. Despite the significant losses, Roku shares surged in after-hours trading by 10% due to the company's better-than-anticipated revenue, which had been targeted around $803 million. Total streaming hours on Roku devices was up for the quarter, to 23.9 billion hours; that's a 23% increase over the same period in 2021. The company's hardware business declined by 18% over the previous holiday season.