As we continue through this latest season of earnings releases, Roku is among the companies reporting its quarterly fiscal results. The movie and TV streaming market has a lot more competition these days, but Roku is still kicking around with its products and services. Not only is it still around, but it also beat analyst expectations on both revenue and earnings-per-share (EPS) for Q2 2023.
Roku released its Q2 2023 earnings results on its investor relations website on July 27, 2023. The company put up a revenue of about $847 million for the previous quarter, and that was well above Wall Street Analyst expectations of $773 million. Moreover, Wall Street analysts expected an EPS loss of $1.27 per share. Even Whisper Number estimates called for a loss of $1.19 per share. Roku still posted a loss on its EPS metric, but that loss only ended up at $0.76 per share.
Roku has been slow and low for some time among competitors in the tech industry. The company still offers products and services for TV and movie streaming on the relative cheap, and even got into offering a line of its own TVs to capitalize on its experience in the streaming space. Nonetheless, the company has had a tough time continuing to keep pace with further competitors in the space. Previous quarters have been down in EPS and revenue against analyst expectations even as the company boasts record hours of streaming per user.
Nonetheless, this was a better-looking quarter for Roku. The company might not be the force it was when it entered the streaming space, but Q2 2023 showed Roku still has notable life in it. Stay tuned as we continue to report on quarterly earnings results from further tech companies.