Roku reports strong second-quarter results, beating Wall Street expectations as revenue grows and profit rises sharply. The company says Q2 revenue reaches $1.35 billion, up 22% year over year, surpassing analysts’ estimates of roughly $1.3 billion. Roku also reports earnings per share of $1.08 on a diluted basis, compared with 7 cents in the prior-year quarter. Net income increases to about $164.2 million, versus net income of $10.5 million a year earlier.
Roku attributes much of the performance to higher “platform” revenue, which rises 25% and is driven by growth across its advertising and streaming-related offerings, according to the coverage. At the same time, Roku does not provide formal financial guidance. Multiple reports link the lack of outlook to uncertainty around an ongoing transaction involving Fox Corporation, which remains under review pending its sale. Overall, the results indicate continued growth in Roku’s core business while the company waits for developments related to the Fox deal.
