Issues with Google’s YouTube TV aside, Roku continued to post positive results in its 2021 first quarter financial report with a 79% growth in net revenue year-on-year to $574.2 million.

In the period, the streaming devices and services company reported an operating income of $75.8 million, on an adjusted EBITDA climbed to $125.9 million. Gross profit was up 132% from a year ago to $326.8 million.

Roku also reported a 35% rise of 2.4 million in incremental Active Accounts in Q1 2021 to reach 53.6 million, although the number of additions was lower in the first quarter than in recent quarters.

Streaming Hours increased by 1.4 billion hours over last quarter to 18.3 billion as the company’s ad-supported stream service The Roku Channel drove another quarter of record growth to reach households with an estimated 70 million people.

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The company told shareholders the strong results were paced by increased advertising and the expansion of content distribution partnerships.

“We generated record revenue and gross profit growth, as well as record Adjusted EBITDA. More broadly, the overall secular shift to streaming continues, and Roku benefits as a result of our leading technology and scale,” the company said.

Roku said it continues to enjoy good results from its ad platform for TV streaming called OneView, that “connects brands, performance advertisers, and our content partners with their target audience.”

The company also said platform revenue increased 101% year over year to $466.5 million.

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By Greg Tarr

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