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Roku revenue: Revenue hovers 59%



<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "For Roku & nbsp; [19659002] (NASDAQ: ROKU) progress seems unstoppable, at least that seems to be the case lately Streaming TV platform specialist saw revenue accelerate once again & nbsp; last The top line for the second quarter rose 59% & nbsp; year over year ̵
1; up from 51% & nbsp; growth in the first quarter and 45% growth & nbsp; in the fourth quarter of last year. "data-reactid =" 11 " > For Roku (NASDAQ: ROKU) the progress seems unstoppable. At least that seems to be the case lately. The streaming TV platform specialist saw revenue accelerate again in the last quarter. The top line in the second quarter rose 59% year over year – an increase from 51% growth in the first quarter and 45% growth in the fourth quarter last year.

A huge increase in platform revenue helped bolster Roko's results. Here's a closer look.

A woman watching TV while eating popcorn

Image source: Getty Images .

<h2 class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Focus results for the second quarter: Raw figures "data-reactid =" 25 "> Focus results for the second quarter: Raw figures

Metric

Q2 2019

Q2 2018

Change

Revenue [19659015] $ $ 250.1 million

$ 156.8 million

59%

Gross profit

$ 114.2 million

$ 77.8 million

47%

Earnings per share ( tap)

($ 0.08) [$008)[19659015] $ 0.00

N / A

<p class = "canvas-atom canvas text Mb (1.0 em ) Mb (0) – sm Mt (0.8 em) – sm "type =" text "content =" Data source: Roku & nbsp; shareholder letter for the second quarter . & Nbsp; " data-reactid = "28"> Data source: Roku shareholder letter for the second quarter.

What happened to Roku this quarter?

Revenue increased from $ 157 million the year before to $ 250 million. Operating profit for the quarter was up 86% year-on-year (primarily from platform advertising, subscriptions and transactions). This put platform revenue at 67% of total revenue.

Gross profit increased 47% over the year. However, when adjusted to exclude a $ 8.9 million benefit on the cost of goods sold in the previous quarter, gross profit increased 66% year-over-year. The large increase in adjusted gross profit compared to Roku's 59% sales growth highlights the company's scalable business model.

Roku boasted of impressive user practices in the 2nd quarter. It added 1.4 million active accounts during the quarter, bringing total active accounts to 30.5 million – an increase of 39% from the previous year. Users streamed 9.4 billion hours during the period, up 72% from the previous year. Average revenue per user exceeded $ 20 for the first time, reaching $ 21.06. This increased by 27% over the year.

What management had to say

<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Management was particularly pleased with its advertising business which contributed to the platform revenue exceeding the company's expectations. "data-reactid =" 34 "> The management was particularly pleased with its advertising activities, which contributed to the platform revenue exceeding the company's expectations.

"Total revenue growth accelerated to 59% [year over year] mainly driven by advertising growth when Roku made money on video ad impressions again and doubled [year over year]," said the management of the shareholder letter for the second quarter. This is in line with recent trends: Rokus video ad impressions more than doubled on an annual basis both in 2018 and in the first quarter of 2019.

The player business also exceeded management's expectations:

During the second quarter, we saw strong unit sales for both Roku TVs and players. We continue to strengthen our position in smart TV OS licenses. Roku TV represented more than one of three smart TVs sold in the United States during the first half.

Player revenue increased 24% the year before to $ 82 million.

<h2 class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Looking forward " data-reactid = "40"> Looking forward

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text "content =" With such strong momentum, the management gave its full-year guidance a significant boost, and it now expects revenue in 2019 to be between $ 1.075 billion and $ 1.095 billion, following an earlier forecast that ranged from $ 1.03 to $ 1.05 billion. also specifically that it now expects adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) for the full year to be between $ 30 million and $ 40 million, up from a previous expectation of $ 10 million to $ 20 million. "Data-reactid =" 41 "> With such strong momentum, management gave its full-year guidance a significant boost. It is now projected that sales in 2019 will be between $ 1.075 billion and $ 1.095 billion, following an earlier forecast that ranged from $ 1.03 billion to $ 1.05 billion. Roku also said it now expects adjusted EBITDA (full-year earnings, tax, depreciation and amortization) for the full year to be between $ 30 million and $ 40 million, up from a previous forecast of $ 10 million to $ 20 million.

<p class = "canvas atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Daniel Sparks has Motley Fool owns shares in and recommends Roku. Motley Fool has a disclosure policy . "data-reactid =" 43 "> Daniel Sparks has no position in one of the listed shares. Motley Fool owns shares in and recommends Roku. Motley Fool has a disclosure policy.

<p class = "canvas atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "This article was originally published on Fool.com "data-reactid =" 44 "> This article was originally published on Fool.com


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