Roku press release (NASDAQ:ROKU): Q2 GAAP EPS of $0.07 beats by $0.23.
Revenue of $1.11B (+14.6% Y/Y) beats by $40M.
Platform revenue was $975 million, up 18% YoY
Gross profit was $498 million, up 17% YoY
Streaming Hours were 35.4 billion, up 5.2 billion hours YoY
For Q3, we estimate total net revenue of approximately $1.2 billion, representing 13% YoY growth. Within that, Platform revenue is expected to grow 16% YoY with a gross margin of approximately 51%. Devices revenue is projected to decline about 3% YoY with a gross margin in negative mid-teens. These trends are expected to result in total gross profit of approximately $520 million and Adjusted EBITDA of roughly $110 million for the quarter.
For the full year, we are raising our outlook for Platform revenue to $4.075 billion and Adjusted EBITDA to $375 million, supported by continued momentum in our Platform business. For Platform revenue, this represents YoY growth of 16%. Based on current trends in advertising activities and streaming services distribution, we anticipate full-year Platform gross margin of approximately 52%. Devices revenue is expected to be slightly down, mostly due to tariffs. We expect Devices gross profit will be roughly in line with 2024 levels.
