With a Loss of 35 Cents a Share Roku Beat Expectations of a 52 Cent a Share Loss
Roku Racked up 14.6 billion streaming hours and increase of 9.4 billion from the prior quarter
Again Roku exceeded expectations by Racking up more active accounts to 43 million. Industry experts expected 42 million active user accounts this quarter.
They also exceeded their per share price loss by 17 cents. And Roku users streamed a total of 14.6 billion hours in the 2nd quarter of 2020.
Roku said streaming levels by active user accounts had tapered off from their 2nd quarter peak. But they are still at levels above the COVID-19 pandemic.
Many who decided to use a Roku during the mass stay at home orders have continued to stick with the friendly media streamer that makes cord cutting easier for anyone.
The secret Roku Channels list also keeps growing. Their channel store also keeps growing as more developers rush to get their content on Roku to get a helping of the Advertiser pie.
In the last several months the share of Roku stocks rose 33%. It outperformed the S&P500 which only rose 16%.
Meanwhile, Roku in a letter to shareholders outline several reasons why their earnings had not performed better. They also declined to make any predictions for QE3 and QE4 because they don't expect advertising budgets to increase until sometime in 2021.
Roku makes a solid media streamer, and based on the feedback from various online forums and groups it is still a great product. When you compare all the FREE Content available on Roku to the constant pay increases from the Cable TV and Network Streaming Channel service. Roku comes out ahead by a wide margin.
The company expects profits to continue heading the right direction over the next few years.
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