Roku Stock Climbs On Strong Q2 Results: EPS Beat, Sales Beat
Portfolio Pulse from Erica Kollmann
Roku, Inc. (NASDAQ:ROKU) shares surged after the company reported better-than-expected Q2 financial results. The company posted a loss of 24 cents per share, beating the analyst estimate of a 43-cent loss. Quarterly sales reached $968.18 million, surpassing the $937.89 million estimate and marking a 14.28% year-over-year increase. Roku also reported growth in streaming households and hours, with a flat ARPU. The company expects Q3 revenue of $1.01 billion and gross profit of $440 million.
August 01, 2024 | 8:51 pm
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Roku reported a Q2 loss of 24 cents per share, beating the expected 43-cent loss. Sales reached $968.18 million, surpassing estimates and growing 14.28% YoY. The company also saw growth in streaming households and hours. Shares rose 7.36% after-hours.
Roku's better-than-expected Q2 results, including a significant EPS beat and strong sales growth, have positively impacted its stock price. The company's growth in streaming metrics and positive Q3 outlook further support the upward price movement.
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