Just to show the magnitude by which Roku’s earnings beat expectations:
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Revenue: $574.2M versus analyst expectations of $490.89M - beat by $84 million. Total net revenue is up 79% YoY. Roku is on track to hit $2.3 billion in sales over the next 12 months.
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Platform Revenue: $466.53M (up 101% yoy) versus $382.5M expected
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Analysts were expecting them to lose 15 cents/share, instead they made a profit of 54 cents/sh. So, yes, they are now generating positive net profits while still growing revenues at near 80% YoY.
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Adjusted EBITDA was $125.9M versus $31.8M expected. That’s almost 4x the expected EBITDA (!)
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Gross margin improved to 57% versus the expected 49%. This shows the expanding profits related to their advertising platform compared to the hardware products.
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Active accounts +35%
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Streaming hours +49%
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ARPU +32%
Guidance:
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Next Quarter Revenue: $615M versus analyst expectations of $549.65M
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Next Quarter EPS Guidance: $0.28 versus -$0.21
Astounding numbers. This one is a keeper for me.
-Ron
Who just bought his 4th Roku TV, and has been long ROKU since early 2019.