July 28, 2023

Roku beat analysts’ expectations for second-quarter earnings and revenue, driven by a rebound in ad sales.

The streaming device maker reported earnings per share of 20 cents on revenue of $847.2 million, compared to analysts’ expectations of 14 cents per share on revenue of $774.5 million.

Roku’s ad revenue grew 34% year-over-year to $691.3 million. The company said that ad spending is recovering from a slowdown in the first quarter, with strong growth from the consumer products and health and wellness industries.

Roku also added 1.9 million “active accounts” in the quarter, bringing its total to 73.5 million.

Looking ahead, Roku forecast third-quarter revenue of $815 million, above analysts’ expectations of $809.6 million. The company said that it is well-positioned to benefit from the continued growth of the streaming market.

The sources for this piece include an article in Reuters.