Roku Hits 30 Million Accounts, Stock Surges 10% on Big Q2 Revenue Growth

Roku surpassed 30 million active accounts and reported strong revenue growth when it shared its Q2 financial performance on Wednesday afternoon — sending its stock price surging in early after-hours trading.

For the three months ending June 30, the device maker added 1.4 million accounts to hit 30.5 million overall, according to their most recent earnings report. Roku reported its customers streamed 9.4 billion hours of content during the quarter — or about 3.4 hours per day on average — setting a new company record in the process.

Roku’s revenue increased 59% year-over-year, hitting $250.1 million and topping analyst estimates of $224.2 million. The company also reported a narrower dip than anticipated, with a loss of 8 cents per share; analysts projected a loss of 22 cents per share.

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“Our business momentum and ongoing investment in areas of competitive differentiation continue to drive growth and attract users, advertisers and content publishers,” Roku said in its letter to shareholders. “This resulted in a robust increase in Active Accounts, healthy growth of streaming hours and continued progress in monetization.”

Roku shares climbed 10% to $111.40 per share soon after the closing bell on Wednesday; if the gains hold as of Thursday morning, Roku will open at a new all-time high. The Los Gatos, California-based company opened the year at about $33 per share.

Roku’s stock has increased more than 200% since early January (via Google)

Roku not only added more viewers this quarter but pulled in more money as well, with average revenue per user increasing $2 from last quarter to $21.06.

Also Read: Why Netflix's Mobile-Only Bet in India Matters

And while Roku is best known for devices like the Streaming Stick, its ad business is continuing to grow at breakneck speed. Ad sales and subscriptions increased 86% year-over-year and accounted for $167.7 billion in revenue.

Roku’s performance comes at the same time cable and satellite providers have reported record quarterly subscriber loses. Altogether, Comcast, AT&T, Charter and Dish had about 1.3 million customers cut the cord during Q2.

Netflix in December: What's Coming and Going That You Should Really, Really Watch (Photos)

With dozens of new titles hitting Netflix each month, it can be difficult to keep track of what to watch. So TheWrap has compiled a list, updated each month, of the best new shows and movies to check out and which to watch before they're gone for good.
Leaving Dec. 1: "Sons of Anarchy" Season 1-7 The hit FX drama from creator Kurt Sutter, which was later spun off into the currently airing "Mayans M.C.," stars Charlie Hunnam as Jackson "Jax" Teller, the leader of a outlaw motorcycle club in Central California.
FX
Arriving Dec. 2: "The Lobster" An absurdist comedy co-written and directed by Yorgos Lanthimos, whose latest film "The Favourite" hit theaters in November, "The Lobster" stars Colin Farrell as a man seeking a partner in a world where single people are transformed into animals.
A24
Arriving Dec. 7: "Dumplin" Danielle Macdonald stars as Dumplin', the plus-size, teenage daughter of a former beauty queen (Jennifer Aniston), who signs up for her mom's pageant as a protest that escalates when other contestants follow in her footsteps, revolutionizing the pageant and their small Texas town.
Netflix
Leaving Dec. 10: "Battle Royale" A stealth romance disguised as a bloody teen slasher, the Japanese modern classic "Battle Royale" centers on a group of high schoolers who are sent to an isolated island where they're forced to compete in a "Hunger Games"-style fight to the death.
Toei Company
Leaving Dec. 12: "Trolls" DreamWorks Animation's 2016 film, based on the elaborately coiffed dolls popular in the '90s, stars Anna Kendrick and Justin Timberlake as a pair of trolls who embark on a mission to rescue their village from a troll-eating monster.
DreamWorks Animation
Arriving Dec. 14: "Chilling Adventures of Sabrina: A Midwinter's Tale" A holiday-themed episode of the Netflix original series, "A Midwinter's Tale" picks up as the winter solstice approaches, as Sabrina orchestrates an emotional séance with serious consequences and Susie's merry plans turn menacing.
Netflix
Arriving Dec. 14: "Roma" Alfonso Cuarón's latest Oscar contender chronicles a tumultuous year in the life of a middle-class family in Mexico City in the early 1970s.
Netflix
Leaving Dec. 15: "Step Up 2: The Streets" The second installment in "Crazy Rich Asians" director Jon M. Chu's dance movie franchise, "Step Up 2: The Streets" stars Briana Evigan as a street dancer who finds herself caught between two worlds when she's recruited to a prestigious dance school.
Touchstone
Arriving Dec. 16: "Springsteen on Broadway" A filmed version of the stage show based on his best-selling autobiography, Bruce Springsteen performs acoustic versions of his music and shares personal stories.
Netflix
Arriving Dec. 18: "Ellen DeGeneres: Relatable" Filmed at Seattle's Benaroya Hall, Ellen DeGeneres makes her return to stand-up after a 15-year hiatus for a new Netflix special.
Netflix
Arriving Dec. 18: "Terrace House: Opening New Doors" Part 5 In the latest batch of episodes from Japan's gentlest reality show, Takayuki and Aya keep going on dates, but Takayuki's heart may be set on someone else, and new member Shunsuke begins a journey of self-discovery.
Netflix
Leaving Dec. 20: "Moana" Featuring songs by "Hamilton's" Lin-Manuel Miranda, Disney's "Moana" centers on the strong-willed daughter, straining at the confines of her Polynesian island, who is tasked with tracking down the demigod Maui (Dwayne Johnson) to save her home.
Disney
Arriving Dec. 21: "Bird Box" Set five years after a wave of mass suicides decimates the population, "Bird Box" stars Sandra Bullock as a mother of two children who embarks on a desperate, dangerous quest for sanctuary.
Netflix
Arriving Dec. 24: "The Magicians" Season 3 Syfy's zany adaptation of the popular series of Lev Grossman novels centers on a group of students at a secret university for magicians as they grapple with everything from bad hookups to murderous trickster gods to fairies who try to take over the world.
Syfy
Arriving Dec. 25: "Avengers: Infinity War" The first part in Marvel's decade-in-the-making superhero team-up unites nearly every hero from the franchise's 20 films in a showdown against the world-destroying villain Thanos and features one of the biggest cliffhangers in cinematic history.
Marvel
Arriving Dec. 31: "The Bill Murray Stories: Life Lessons Learned From a Mythical Man" Tommy Avallone's 2018 documentary investigates the mythical encounters everyday people have had with Bill Murray, from photobombed wedding photos to crashed house parties.
Getty Images

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TheWrap has compiled the highlights — before it’s too late

With dozens of new titles hitting Netflix each month, it can be difficult to keep track of what to watch. So TheWrap has compiled a list, updated each month, of the best new shows and movies to check out and which to watch before they're gone for good.

View In Gallery

Netflix in December: What's Coming and Going That You Should Really, Really Watch (Photos)

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