Roku Q2 Sales Rise 14%, Beating Expectations, as Losses Narrow
variety.comTodd Spangler NY Digital Editor Roku‘s numbers for the second quarter of 2024 topped Wall Street expectations, helped by a 2% drop in operating expenses and a 39% increase in devices revenue.
The streaming platform company reported revenue $968.2 million, up 14%. Net loss was $33.95 million, or 24 cents per share, compared with a net loss of $107.6 million in the year-earlier period.
Analysts projected Roku to report Q2 revenue of $937.9 million and a net loss of 44 cents per share, per financial data provider LSEG.
Gross profit was $425 million, up 12% year over year, as total operating expenses declined 2% to $495.9 million. Roku said streaming households were 83.6 million, a net increase of 2.0 million from Q1 2024 and up 14% year over year, while streaming hours on its platform were 30.1 billion, up 5.0 billion hours from the year prior.
Read more on variety.com
