Roku users spent 14.6 billion hours streaming in the last quarter

Roku users streamed 14.6 billion hours of content in the second quarter, giving the streaming-media company better revenue than expected despite weakness in the television advertising market.
Shares were down 0.4% after Wednesday’s trading.

The company reported a net loss of $ 43.1 million, or 35 cents per share, with a loss of $ 9 million or 8 cents per share in the year-ago quarter. Analysts polled by FactSet expected a 52 percent loss per share.
Roku ROKU,
Revenue rose to $ 356.1 million from $ 250 million in the quarter under review, while analysts modeled $ 316 million. The company’s sales included $ 111.3 million from its player business and $ 244.8 million from its platform business, including advertising and licensing of its smart-TV operating system.

Average revenue per user increased from $ 21.06 to $ 24.92 in the year-ago period.
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Roku’s 14.6 billion streaming hours increased from 9.4 billion hours in the year-ago quarter and saw active accounts climb to 43 million. It was 39.8 million in the March quarter and 30.5 million in the prior June quarter.
Analysts expected 42 million active accounts.
The company said active-level streaming levels are “moderate” since they reached their peak at the beginning of the second quarter, but remain above where they were before the epidemic.
Roko refused to give a financial outlook pointing to challenges in the advertising market. The company said in its investor letter, “The outlook of the advertising industry remains uncertain for Q3 and Q4, and we believe that total TV advertising spending will not recover to pre-COVID-19 levels by 2021. ” Tourism has dragged their marketing expenses far behind.
The company said in its investor letter that it sees “potential causes of variability”, but still expects its “total revenue to grow substantially on a year-on-year basis in the second half and for the entire year 2020.” For, as it is not “before the epidemic we anticipated.
Roku announced back in December that one-time move would be made to remove Chief Financial Officer Steve Louden, but the company said on Wednesday that it planned to continue in Louden’s role and cease looking for his successor. have make.
Roku shares have risen 33% in the last three months as the S&P 500 SPX,
+ 0.64%
There is an increase of 16%.