Roku smashed Wall Street analysts’ consensus estimate for revenue in the second quarter, reporting a jump of 42% from a year ago to $356.1 million.
Analysts had expected $315.4 million.
The company now has 43 million active accounts, a rise of 41% over the same period in 2019. The Roku Channel, a key part of the company’s strategy to serve as a comprehensive streaming enabler, grew to reach households with an estimated 43 million viewers in the quarter. Total streaming hours gained 65% to hit 14.6 billion. In the company’s letter to shareholders, the company said streaming hours “moderated since peaking in early Q2,” but said the metric “remains elevated from pre-covid-19 levels.”
Executives stressed the quarter’s period of increasing streaming investment across a wide range of players old and new. In the last eight months alone, major services like Disney+ and Apple TV+ have come to market, though the two notable 2020 entries — HBO Max and...
Analysts had expected $315.4 million.
The company now has 43 million active accounts, a rise of 41% over the same period in 2019. The Roku Channel, a key part of the company’s strategy to serve as a comprehensive streaming enabler, grew to reach households with an estimated 43 million viewers in the quarter. Total streaming hours gained 65% to hit 14.6 billion. In the company’s letter to shareholders, the company said streaming hours “moderated since peaking in early Q2,” but said the metric “remains elevated from pre-covid-19 levels.”
Executives stressed the quarter’s period of increasing streaming investment across a wide range of players old and new. In the last eight months alone, major services like Disney+ and Apple TV+ have come to market, though the two notable 2020 entries — HBO Max and...
- 8/5/2020
- by Dade Hayes
- Deadline Film + TV
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