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SAN JOSE - Roku , Inc. (NASDAQ:ROKU) reported second quarter earnings that significantly exceeded analyst expectations, driving shares up 3% following the announcement.
The streaming platform provider posted adjusted earnings per share of $0.17, dramatically outperforming the analyst estimate of -$0.15, marking a $0.32 positive surprise. Revenue for the quarter reached $1.21 billion, handily beating the consensus estimate of $1.07 billion and representing substantial growth from the same period last year.
The company’s shares climbed 4% in response to the strong results, reflecting investor enthusiasm for Roku’s performance. Looking ahead, Roku provided third quarter revenue guidance of $1.17 billion, though no analyst consensus for this figure was provided for comparison.
Roku, which pioneered streaming on television, continues to expand its ecosystem through Roku-made TVs, streaming players, and The Roku Channel, which the company notes is the #2 app on its platform in the U.S. by streaming hours.
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