Roku reaches 90 million streaming households

The company ended its fiscal year 2024 with 89.8 million streaming households, reflecting its continued growth trajectory in the streaming sector. According to InvestingPro data, while Roku (NASDAQ:ROKU) holds more cash than debt on its balance sheet and maintains strong liquidity with a current ratio of 2.57, analysts do not anticipate profitability this year. Subscribers to InvestingPro can access a comprehensive Pro Research Report offering detailed analysis of Roku's financial health, market position, and growth prospects among 1,400+ top US stocks.

Founder and CEO Anthony Wood attributed the success to the company's focus on simplifying the streaming experience, stating, "Roku is the preferred choice for millions of viewers."

The milestone follows a decade of the Roku TV program and 15 years since the launch of Roku's first streaming device. Roku's offerings have evolved to include features like Backdrops and Roku Smart Picture, aimed at enhancing the TV viewing experience. The Roku Channel, part of the company's content library, has experienced over 80% growth year-over-year and is ranked as a top 10 streaming service in the U.S.

Roku's platform business extends beyond hardware to encompass advertising and subscription services. Advertisers and streaming services benefit from Roku's unique position as the entry point to TV viewing, with advertising experiences such as Roku City and the Sports Zone, and the ability to promote subscriptions on the platform.

The company ended its fiscal year 2024 with 89.8 million streaming households, reflecting its continued growth trajectory in the streaming sector. According to InvestingPro data, while Roku holds more cash than debt on its balance sheet and maintains strong liquidity with a current ratio of 2.57, analysts do not anticipate profitability this year. Subscribers to InvestingPro can access a comprehensive Pro Research Report offering detailed analysis of Roku's financial health, market position, and growth prospects among 1,400+ top US stocks.

In other recent news, Roku Inc. has announced significant developments. The company reported surpassing 90 million streaming households, indicating its dominance in North America's television consumption. Roku also announced the departure of Gidon Katz, Senior Vice President of Platform Products & User Experience, effective April 2025. Furthermore, Roku unveiled Roku Data Cloud, a data solution designed to enhance TV streaming investments for advertisers and publishers, offering deeper insights into viewer habits and preferences.

Loop Capital recently increased Roku's price target to $80, maintaining a Hold rating on the stock, following Roku's effective incorporation with The Trade Desk (NASDAQ:TTD). Benchmark has also reiterated its Buy rating on Roku shares amid merger and acquisition speculation. These recent developments indicate a period of significant change and growth for Roku.

The company's strong financial performance, marked by a 15% increase in platform revenue, has been a key factor in analyst assessments. Roku's strategic moves, including the launch of Roku Data Cloud and the effective incorporation with TTD, have also been noted by analysts. These developments have contributed to Roku's strong position in the streaming industry and its potential for advertising growth.

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