Categories AlphaGraphs, Earnings, LATEST, Other Industries

Roku’s Q2 results beat market estimates

Roku Inc. (NASDAQ: ROKU) beat market estimates for revenue and delivered a narrower-than-expected loss for the second quarter of 2019. Shares gained 8% in aftermarket hours on Wednesday.

Total revenue jumped 59% year-over-year to $250.1 million, topping estimates of $224 million. The increase was driven by growth in advertising as Roku monetized video ad impressions more than doubled year-over-year.   

Roku Inc. beat market estimates for revenue and delivered a narrower-than-expected loss for the second quarter of 2019.

The company reported a net loss of $9.3 million, or $0.08 per share, versus a net income of $0.52 million, or $0.00 per share, in the prior-year quarter. Analysts had forecast a loss of $0.22 per share.

During the quarter, platform revenue grew 86% to $167.7 million and player revenue rose 24% to $82.4 million. The company saw strong unit sales for both Roku TVs and players. Player unit sales increased 36%, marking the highest growth in the last nine quarters.  

Active accounts grew 39% year-over-year to 30.5 million while streaming hours increased 72% to 9.4 billion. Average revenue per user (ARPU) increased 27% to $21.06.

For the third quarter, Roku has guided for revenues of $250-255 million and net loss of $40 million to $34 million.

Based on the strong performance thus far, the company raised its outlook for full-year 2019 and now expects a net loss of $71-61 million on revenues of $1.07 billion to $1.09 billion. Platform revenue is expected to represent roughly two-thirds of total revenue.

Get access to timely and accurate verbatim transcripts that are published within hours of the event.

Most Popular

Does Unity Software (U) stock has more room to run?

Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a

PepsiCo (PEP): Steady snacking habits amid pandemic drive strong quarter for beverage giant

PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the

Does the virus-driven boom make Electronic Arts (EA) a good investment?

With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,

3 thoughts on “Roku’s Q2 results beat market estimates

Comments are closed.


Add Comment
Viewing Highlight