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Jun 30, 2022
Roku Q2 2022 Earnings Report
Slowdown in TV advertising spend impacted platform revenue growth; however, active accounts continued to grow.
Key Takeaways
Roku's Q2 2022 results were affected by a slowdown in TV advertising spend due to the macroeconomic environment. Total net revenue grew 18% year over year to $764 million, with platform revenue increasing 26% year over year to $673 million. The company added 1.8 million incremental active accounts, reaching 63.1 million.
Total net revenue grew 18% year over year to $764 million.
Platform revenue increased 26% year over year to $673 million.
Gross profit was up 5% year over year to $355 million.
Roku added 1.8 million incremental active accounts to reach 63.1 million.
Revenue by Segment
Forward Guidance
Roku anticipates total net revenue of approximately $700 million and total gross profit of roughly $325 million for Q3 2022. Adjusted EBITDA is expected to be negative $75 million.
Challenges Ahead
- Advertising spend, particularly in the scatter market, will continue to be negatively impacted.
- Consumer discretionary spend will continue to moderate, pressuring both Roku TV and Roku player sales.
- Economic environment defined by recessionary fears.
- Inflationary pressures.
- Rising interest rates and ongoing supply chain disruptions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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