Roku, Inc. (NASDAQ: ROKU) reported a net loss for the second quarter of 2023 when the media streaming platform’s revenues increased by 11%.
The company reported total revenues of $847 million for the three months ended June 2023, which is up 11% from the year-ago period. The number of active accounts increased to 73.5 million.
Roku incurred a net loss of $107.6 million or $0.76 per share in the second quarter, which marked an improvement from the prior-year period when the company reported a loss of $112.3 million or $0.82 per share.
“Roku is growing viewers and hours, while traditional pay TV continues to erode. Our unrelenting focus to build a best-in-class consumer experience that is simple and delightful is driving engagement,” said Anthony Wood, CEO of Roku.