Vizio Reports $12.1 Million Loss for First Quarter

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SmartCast platform profit up 20%

Vizio
(Image credit: Vizio)

Vizio Holding Corp., which has agreed to be acquired by Walmart, reported a loss in the first quarter despite growth in its advertising and data businesses.

Vizio’s first-quarter net loss was $12.1 million, or 6 cents a share, compared to a loss of $700,000, or 0 cents a share, a year ago.

Net revenue dipped 1% to $353.9.

Vizio’s platform business, which includes ad sales and data licensing, had a gross profit of $88.3 million, up 20% from a year ago.

Platform revenues were up 27% to $159.6 million.  

The company said it expanded its direct ad relationships by 40%.

Vizio said it had 18.6 million SmartCast active accounts, up 7% Those accounts streamed 5.6 billion hours of content, up 15%. Hours per average SmartCast active account grew 8% to 101 hours per month.

Average revenue per SmartCast account rose 17% to $32.24.

The company’s device business lost 7.2 million as sales fell 16% to $194.3 million. Smart TV shipments fell 14% to 800,000.

Jon Lafayette
Jon Lafayette

Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.