Roku (ROKU) Stock Sinks 10% on Q4 Revenue Miss and Worse Than Expected Guidance

Roku (NASDAQ: ROKU) shares dropped around 10% after-hours following the company’s reported Q4 results, with revenue of $865.3 million missing the consensus estimate of $896.54 million. EPS came in at $0.17, better than the consensus estimate of $0.07.

For the full 2021-year, the company achieved total net revenue of $2.765 billion, up 55% year-over-year, with platform revenue increasing 80% year-over-year to $2.285 billion.

Active Accounts reached 60.1 million in Q4, a net increase of 8.9 million from Q4/20. Streaming Hours grew by 14.4 billion hours year-over-year to 73.2 billion, making the company the No. 1 TV streaming platform in the U.S., Canada, and Mexico by hours streamed. Average Revenue Per User (ARPU) grew 43% year-over-year to $41.03 (trailing 12-month basis).

The company expects Q1/22 revenue of $720 million, missing the consensus estimate of $748.5 million.

For 2022, the company anticipates ongoing supply chain disruptions to continue to impact the TV industry, with overall TV unit sales likely to remain below pre-COVID levels, which could affect the company’s active account growth. For 2022, the company expects total net revenue growth to be 35%.

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