Roku reported generally strong results in Q2 2024, with streaming households growing by 14% year-over-year to 83.6 million and viewing hours up 20% YoY to 30.1 billion.
Revenue also climbed in the quarter by 14% YoY to $968.2 million as its platform revenue, which includes ad sales, increased by 11% to $824.3 million.
That reduced its losses by 43% YoY to a $71.2 million loss in Q2.
Roku continues to be the most widely used streaming device in the U.S.
“Globally, our users streamed 30.1 billion hours in Q2, up 20% YoY,” the company said in a letter to shareholders. “We also grew engagement per household globally, with average Streaming Hours per Streaming Household per day of 4.0 hours in Q2 2024, up from 3.8 hours in Q2 2023. According to Comscore, streaming time on Roku in the U.S. is three times higher than the next streaming CTV brand.”
The company also reported that: “In Q2, the YoY growth of advertising across the Roku platform – excluding M&E – outperformed both the overall ad market and the OTT ad market in the U.S. This performance is a result of our broad ad portfolio, the reach of the Roku Home Screen, and our expanding partnerships with third-party ad platforms.”
The company’s stock was down by 1.8% at 12:08 p.m. on Friday August 2.
