Categories AlphaGraphs, Earnings, Leisure & Entertainment
Earnings: Roku swings to profit in Q2 as revenues surge; results beat
Roku, Inc. (NASDAQ: ROKU) on Wednesday reported profit for the second quarter of 2021, compared to a loss last year, even as the streaming services provider further expanded its user base driving strong revenue growth. The numbers came in above the market’s projection.
At the end of the June quarter, Roku had 55.1 million active accounts, up 28% from the prior year period. At $645 million, revenues were up 81% from last year. Analysts were looking for a smaller number for the most recent quarter.
The impressive top-line performance translated into a net profit of $73.5 million or $0.52 per share, compared to a loss of $43.1 million or $0.35 per share in the second quarter of 2020. Earnings also topped expectations.
Read management/analysts’ comments on Roku’s Q2 earnings
Last week, shares of ROKU climbed to a record high but withdrew from the peak later. The stock closed Wednesday’s trading higher.
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