Shares of streaming platform Roku Inc. (ROKU) soared over 10% in after-hours trading on Thursday, following the company's better-than-expected fourth-quarter 2024 financial results.

Roku reported a narrower net loss of $0.24 per share for the quarter ended December 31, surpassing analysts' expectations of a $0.41 loss per share. The company's revenue climbed 22% year-over-year to $1.2 billion, exceeding the consensus estimate of $1.15 billion.

The strong performance was driven by robust growth in the company's advertising business and continued subscriber additions. Roku's platform revenue, which includes advertising sales and subscriptions, grew 25% year-over-year to $1.04 billion, fueled by increased advertising demand, particularly from the political vertical.

Roku's subscriber base also witnessed a healthy expansion, with the company adding 4.3 million new streaming households in the quarter, bringing the total to 89.8 million. Additionally, streaming hours on The Roku Channel surged 82% year-over-year, reaching households with approximately 145 million people in the U.S.

Looking ahead, Roku provided an optimistic outlook, forecasting first-quarter revenue of $1.005 billion, in line with analysts' expectations. For the full year 2025, the company expects revenue of $4.61 billion, matching analysts' consensus estimate and representing a 12% increase from 2024.