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The streaming firm sees July-September period net revenue of $815 million, higher than analysts’ projection of $809.6 million, according to Refinitiv data.
Shares of the company gained nearly 4% aftermarket, after Roku (NASDAQ:ROKU) also delivered higher-than-expected June-quarter revenue.
“We have begun to see some ad verticals improve, which resulted in modest YoY platform revenue growth in Q2, and we are well positioned to re-accelerate growth as the ad market recovers,” CEO Anthony Wood and CFO Dan Jedda said in a joint statement.
Roku’s second-quarter revenue grew 11% to $847.2 million, beating estimates of $774.5 million. The company’s “active accounts” were up by 1.9 million sequentially to 73.5 million.
The company’s ad-supported streaming platform has gained popularity with users trying to cut down on their discretionary spending. Moreover, with streaming giants like Netflix (NASDAQ:NFLX) and Disney+ adding ad-supported tiers to their services, more advertising dollars are flowing to streaming from TV.
