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Roku Beats Street with 51% Q1 Revenue Jump, Now Up to 29M Active Accounts

Roku volatile stock shot up 8.5% in after-hours trading after the company reported a 51% jump in first-quarter revenue to $206.7 million. Analysts had expected revenue to come in at around $189 million.

In a Q1 report overflowing with good news for the now diversified OTT company, advertising revenue was up to $134.1 million compared to $75 million a year ago.

Hardware sales increased to $72.5 million from $61.5 million.

Related: Roku Partners With Adobe, Opens Up First-Party Data to Programmatic Buying

Roku now has 29.1 million active accounts on its ecosystem. And it has overtaken Samsung as the most widely distributed smart TV user interface.

“Roku had an outstanding first quarter,” the company said in its letter to shareholders. “The strength of our brand, the scale of our active account base, the advantages of our purpose-built streaming OS, and the engagement of our users make Roku an increasingly important partner for content publishers, advertisers and TV manufacturers.”