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.
