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Roku beats revenue expectations in Q2, reports $1.11 billion revenue with 15% increase YoY. Platform revenue grows 18%, devices revenue falls by 6%. Earnings per share at 7 cents, surpassing estimates.
Roku Inc (NASDAQ: ROKU) released its second-quarter financial results after the market closed. The company reported revenue of $1.11 billion, a 15% increase from the previous year, surpassing the Street's expected $1.07 billion. Platform revenue saw significant growth, reaching $975.5 million, up 18% year-over-year, driven by successful video advertising and the acquisition of Frndly. Device revenue, however, decreased to $135.6 million, down 6% compared to the previous year. Earnings per share for the quarter were 7 cents, well above the expected loss of 16 cents per share.