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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.
Revenue by Segment
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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