Roku Adds 2M Streaming Households In Q2, Hits Several Key Financial Targets
deadline.comRoku added two million streaming households in the second quarter, reaching 83.6 million, and continued recent strength in several key financial areas.
Platform revenue, a broad category including advertising climbed 11% from the year-ago period to hit $824.3 million, pacing total revenue to $968.2 million, well ahead of Wall Street estimates for $937.89 million.
Net losses in the quarter came in at 24 cents, far less than the Street expectation for 43 cents and well below the 76 cents posted in the year-ago period.
Roku users around the world streamed 30.1 billion hours in the quarter, up 20% over the 2023 frame. The company said it had its fourth straight quarter of positive adjusted EBITDA and free cash flow, which its quarterly letter to shareholders attributed to “top-line growth and ongoing operational efficiencies.” Shares in Roku, which have fallen almost 50% in 2024 to date, jumped almost 7% on the earnings report during after-hours trading.
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