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Jun 30, 2024
Roku Q2 2024 Earnings Report
Roku delivered solid Q2 2024 results, with growth in streaming households, streaming hours, and platform revenue, alongside a fourth consecutive quarter of positive Adjusted EBITDA and Free Cash Flow.
Key Takeaways
Roku's Q2 2024 results showed solid growth with a 14% increase in Streaming Households YoY, a 20% increase in Streaming Hours YoY, and an 11% increase in Platform revenue YoY. The company achieved its fourth consecutive quarter of positive Adjusted EBITDA and Free Cash Flow.
Total net revenue was $968 million, up 14% year over year.
Platform revenue was $824 million, up 11% year over year.
Gross profit was $425 million, up 12% year over year.
Streaming Households reached 83.6 million, a net increase of 2.0 million from Q1 2024.
Roku
Roku
Roku Revenue by Segment
Revenue by Segment
Platform Revenue
CapyFin.comDevices Revenue
CapyFin.com Forward Guidance
For Q3 2024, Roku estimates Total net revenue of $1.010 billion, growing 11% YoY, with Platform revenue growing 9% YoY and Devices revenue growing 24% YoY. They expect Q3 total gross profit of $440 million and Adjusted EBITDA of $45 million. For Q4, they anticipate the YoY growth rate of Platform revenue will accelerate sequentially.
Positive Outlook
- Total net revenue of $1.010 billion, growing 11% YoY
- Platform revenue growing 9% YoY
- Devices revenue growing 24% YoY
- Q3 total gross profit of $440 million
- Adjusted EBITDA of $45 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income