Smart TV platform revenue rose 22% in the first quarter to $125.5 million -- with its advertising business 24% higher than the first quarter of 2022. The company did not disclose specific financial details for advertising.
Its smart TV ‘Platform+’ business witnessed a 14% hike in gross profit to $73.8 million.
Vizio saw its SmartCast platform gain 12% in active accounts -- now 17.5 million. -- with the average revenue per user per month 23% higher to $29.20.
Vizio's bigger "device" business -- largely smart TV sets -- sank a massive 40% to $231.2 million, while smart TV shipments were down 32% to 900,000 from 1.4 million.
On a positive note, the overall company net loss was narrowed to $700,000 from $11 million in year-ago period.
In Tuesday trading, Vizio's stock close 2% higher to $8.64, and in after-hours trading, the share price improved 7%.