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Roku Trades Higher After Q2 Earnings Beat

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Roku Trades Higher After Q2 Earnings Beat

Roku Inc (NASDAQ: ROKU) shares are soaring after reporting a second-quarter earnings beat.

Earnings came in at a loss of 8 cents per share, beating estimates by 13 cents. Sales came in at $250.1 million, beating estimates by $25.9 million.

The company also issued strong third-quarter sales guidance of $250 million-$255 million versus a $245.4 million estimate.

"Continued strong execution against our strategic plan led to a great quarter," the company said in it shareholder letter. "We achieved two significant milestones: active accounts passed 30 million and ARPU surpassed $20. We beat our outlook for revenue, gross profit and adjusted EBITDA. 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 monetization."

Roku shares are up 5% at $106 in Wednesday's after-hours session. The stock closed higher by 2.5% at $100.97.

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Photo courtesy of Roku.

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