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Roku Tops Q2 Earnings Expectations, but Total Streaming Hours Decline by 1 Billion from Prior Quarter

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Roku easily beat Wall Street forecasts for second-quarter 2021 earnings — posting 81% revenue growth — but the net number of new active user accounts fell shy of analyst expectations, w…

Roku’s active accounts reached 55.1 million, an increase of 1.5 million active accounts from Q1. Analysts at Morgan Stanley expected Roku to end the quarter with 56.2 million accounts. Meanwhile, streaming hours on the Roku platform for Q2 were 17.4 billion hours, a decrease of 1 billion hours from Q1 2021.

The company blamed the sequential decline in streaming hours on consumers seeking “increased out-of-home entertainment activities in Q2 as a result of pent-up demand and the loosening of COVID-19 restrictions.” Citing Nielsen measurements, Roku claimed it still “significantly outperformed” the TV industry in the most recent quarter, with Roku’s streaming hours increasing nearly 19% globally in Q2 year over year compared with a nearly 19% decline in traditional TV consumption.

On the Roku Channel front, Roku has been opportunistically snapping up exclusive and original content that it can monetize with ads.

 

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