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Roku, Inc. (NASDAQ:ROKU) shares are up after the company reported its second-quarter financial results Thursday. Here's a look at the details from the report.
The Details: Roku reported quarterly losses of 24 cents per share which beat the analyst consensus estimate of losses of 43 cents by 44.19%.
Quarterly sales clocked in at $968.18 million, which beat the analyst consensus estimate of $937.89 million by 3.23% and represents a 14.28% increase from the same period last year. Platform revenue was $824 million, up 11% year-over-year.
The company said streaming households totaled 83.6 million, a net increase of 2 million year-over-year, and streaming hours were 30.1 billion, up 5 billion hours from the same period last year. Average revenue per user (ARPU) was $40.68 on a trailing 12-month basis and was flat year-over-year.
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“We achieved our fourth consecutive quarter of positive Adjusted EBITDA and Free Cash Flow (TTM) as a result of top-line growth and ongoing operational efficiencies. Importantly, Roku is executing well against initiatives to accelerate Platform revenue growth, which include maximizing ad demand for Roku, leveraging our Home Screen as the lead-in for TV, and growing Roku-billed subscriptions,” the company said in a letter to shareholders.
Outlook: Roku expects third-quarter total net revenue of $1.01 billion and total gross profit of $440 million.
ROKU Price Action: According to Benzinga Pro, Roku shares are up 7.36% after-hours at $59.40 at the time of publication Thursday.
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Posted In: ROKU
