Vizio Holding Corp., the TV maker being bought by Walmart Inc., reported fourth-quarter results Tuesday that beat expectations, helped by a jump in advertising and smart-TV platform sales. <\/p>\n
The results came after Walmart Shares of Vizio Due to that deal, Vizio did not hold a conference call to discuss the results, and it didn\u2019t offer any financial forecasts. Walmart has said it expects the purchase to close during its fiscal year, which wraps up at the end of January 2025. <\/p>\n Vizio reported fourth-quarter net income of $13.2 million, or 7 cents a share, compared with $6.3 million, or 3 cents a share, in the same quarter a year earlier. Revenue came in at $502.6 million, down from $533.5 million in the prior-year quarter. <\/p>\n Analysts polled by FactSet expected Vizio to earn 1 cent a share, on $499 million in sales. <\/p>\n Sales in the company\u2019s Platform+ segment \u2014 which includes Vizio\u2019s viewing-data analytics as well as the platform that allows viewers to use streaming apps \u2014 jumped 28% year over year. Advertising revenue was up 36%. <\/p>\n When the Wall Street Journal first reported<\/a> on the possibility of a deal<\/a>, analysts said it would give Walmart access to Vizio\u2019s operating system and reserves of viewer data. That data would help the company serve ads more precisely to people watching TV at home or in Walmart\u2019s stores, where digital screens are increasingly used to advertise deals. <\/p>\n Brands pay Walmart for digital ad space on those screens and on Walmart\u2019s website and apps. The company\u2019s advertising business has grown rapidly over the past year, and similar ad sales have become a bigger priority for companies like Amazon.com Inc. In announcing the deal last week, Walmart noted that Vizio offers a service that allows viewers to stream shows and movies for free with ads, as well as an advertising platform that has relationships with more than 500 advertisers. Walmart said the deal would bring together Vizio\u2019s affordable TVs with the retailer\u2019s own advertising reach, and capitalize on the growth in connected TV. <\/p>\n Executives, during the retailer\u2019s earnings call last week, did not elaborate much beyond that. <\/p>\n \u201cMarketplace and advertising are key drivers of profitability growth, as we\u2019ve already discussed, and this acquisition accelerates the build-out of our advertising platform into the connected-TV business, which will be exciting,\u201d Walmart Chief Executive Doug McMillon said on the call. <\/p>\n<\/p><\/div>\n<\/div>\n
\n WMT,
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\n last week said it would buy Vizio for $2.3 billion<\/a>. The retail and e-commerce giant hopes the purchase will help it reach more people with digital ads<\/a> in stores and on their screens at home and harness the consumer data that falls its way in the process. <\/p>\n
\n VZIO,
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\n rose 0.2% after hours on Tuesday. The stock is up roughly 6% over the past 12 months, thanks largely to news of Walmart\u2019s purchase. <\/p>\n
\n AMZN,
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\n and Uber Technologies Inc.
\n UBER,
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