Roku (NASDAQ: ROKU) reported Q2 EPS of ($0.35), $0.15 better than the analyst estimate of ($0.50). Revenue for the quarter grew 42% to $356.1 million versus the consensus estimate of $315.43 million.

"In Q2 Roku delivered strong results highlighted by exceptional account growth. The company generated the largest net increase in active accounts in our history outside of a Q4 holiday period. Roku and our partners also saw a surge in growth for AVOD, SVOD and TVOD services during the quarter. As economic pressures caused advertisers to further re-evaluate how much and where to invest media dollars, Roku delivered strong growth in our ad business, particularly relative to the overall TV ad market that was down.

The re-platforming of TV to streaming has accelerated. We believe that Roku’s products and services are more relevant than ever, that we are an essential partner to content owners who want to reach large streaming audiences, and that our modern tools and incremental reach over linear TV drive great results for brands."

Highlights:

Total net revenue grew 42% YoY to $356.1 million; • Platform revenue increased 46% YoY to $244.8 million; • Gross profit was up 29% YoY to $146.8 million; • Roku added 3.2 million incremental active accounts in Q2 2020 to reach 43 million; • Streaming hours* increased by 2.3 billion hours over last quarter to 14.6 billion; • Average Revenue Per User (ARPU) of $24.92 (trailing 12-month basis), up 18% YoY; • The Roku Channel reached U.S. households with an estimated 43 million peopl

For earnings history and earnings-related data on Roku (ROKU) click here.