Roku (NASDAQ: ROKU) reported Q2 EPS of ($0.76), $0.51 better than the analyst estimate of ($1.27). Revenue for the quarter came in at $847.2 million versus the consensus estimate of $773.02 million.

GUIDANCE:

Roku sees Q3 2023 revenue of $815 million, versus the consensus of $810 million.

• Overall, trends that we observed in Q1 played out in Q2, and we expect them to continue throughout the year. While consumer spend is showing some modest growth, macro concerns and uncertainty remain. We see some recovery signals within certain advertising verticals such as CPG and health and wellness. However, M&E spend, which was already challenged industry-wide, is expected to be further pressured by limited fall release schedules.
• For Q3, we expect total net revenue of roughly $815 million, total gross profit of roughly $355 million, and Adjusted EBITDA of negative $50 million. We will continue to moderate YoY OpEx growth rates, with Q3 likely to be lower than Q2. And, we remain committed to our plan to deliver positive Adjusted EBITDA for the full year 2024 with continued improvements after that.
  

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