Shares of Roku (NASDAQ:ROKU) have plunged today, down by 16% as of 12:30 p.m. EST, after the company reported fourth-quarter earnings. Guidance for the first quarter left a little to be desired.
Revenue in the fourth quarter came in at $188.3 million, topping the consensus estimate of $182.5 million. Net income was $6.9 million, or $0.06 per share, while analysts were expecting the company to lose $0.10 per share. Active accounts grew to 19.3 million by the end of the quarter, and Roku streamed 4.3 billion hours during the quarter.
Average revenue per user (ARPU) was $13.78 on a trailing-12-month basis.
While the fourth-quarter results topped expectations, guidance for the first quarter fell short. Roku expects first-quarter revenue to be in the range of $120 million to $130 million, with a net loss of $15 million to $21 million. Analysts had been modeling for $132 million in revenue for the first quarter. Adjusted EBITDA in the first quarter is expected to be negative $10 million to negative $16 million.
For the full-year 2018, Roku expects total revenue of $660 million to $690 million, with a net loss of $40 million to $55 million. Adjusted EBITDA for the year should be negative $10 million to negative $25 million.