Roku has reported Q2 2019 earnings that have exceeded analysts' estimates on both the top and bottom line and also achieved two significant milestones: active accounts passing 30 million and ARPU surpassing $20.
Overall, the quarterly results showed that Roku's revenue came in at $250.1 million (versus $224.4 million expected); and earnings per share were $-0.08 versus the $-0.21 per share expected. Gross profit was $114.2 million, up 47% year-over-year.
“Continued strong execution against our strategic plan led to a great quarter. We beat our outlook for revenue, gross profit and adjusted EBITDA,” the company said. “The industry-wide shift to streaming is accelerating. Our business momentum and ongoing investment in areas of competitive differentiation continue to drive growth and attract users, advertisers and content publishers. This resulted in a robust increase in active accounts, healthy growth of streaming hours and continued progress in monetisation.”
The active accounts additions shown in the Q2 results represented an increase of 1.4 million from last quarter; while ARPU came in at $21.06, up $2.00 compared with Q1 2019.
Streaming hours meanwhile increased a half-billion hours versus Q1 to 9.4 billion, up 72% year-over-year.