Roku stock surged around 8% in after hours trading on the Nasdaq Thursday as the streaming company reported second-quarter revenue of $847 million, up 11% year over year.
That performance was largely driven by what is Roku's primary business, advertising-dependent "platform" sales, with revenue reaching $744 million for the quarter, also up 11% over Q2 2022.
You can access Roku's Q2 letter to shareholders here.
Roku, which operates the top connected TV device platform in America, also reported gross profit of $378 million, up 7%.
Active accounts were up, too, by 1.9 million in the second quarter, with the company's base reaching 73.5 million users.
Meanwhile, Roku also saw a spike in engagement, with total streaming hours on its platform up by 4.4 billion to 25.1 billion from April - June.
Roku touted the Nielsen market share figures for U.S. TV viewing in May, noting that its free, ad-supported Roku Channel now accounts for 1.1% of all domestic TV watching .
Average revenue for customer did decline, by 7% to $40.67. "This decline was due to strong global active account growth outpacing platform revenue growth," Roku said.
Roku, which is now manufacturing smart TVs and all sorts of smart home hardware, saw revenue for its "devices" business increase by 9% to $103.4 million. But the company is still losing money every quarter on its gadget sector.
