Roku added 1.5 million monthly active users in the second quarter, but witnessed a 6% slowdown of total streaming hours from the first quarter of this year, according to the company’s earnings release.
This contributed to the company's stock tumbling 8% in after market trading to $387.00.
Total second-quarter streaming hours declined to 17.4 billion hours -- for a 6% drop, a fall of 1 billion hours from the first quarter (18.4 billion). Roku's monthly active users grew to 55.1 million.
Roku points to more out-of-home consumers doing less streaming and TV viewing in the period, as a result of the easing of in-home pandemic restrictions and concerns versus the year-ago quarter.
Still, Roku says overall streaming hours year-over-year were up 19% -- while there was a 19% decline in traditional TV consumption and a 2% drop in TV streaming across all platforms. Data here comes from Nielsen-measured persons two years and older, according to the streaming/digital app distribution company.
Total company-wide revenues soared 81% over the year-ago second-quarter 2020 period to $645 million.
Revenue from content distribution and advertising -- via Roku’s "platform" -- grew to $532 million, up 117%. Its set-top-box player revenue sales were virtually unchanged, inching 1% higher to $112.8 million.
The company’s average revenue per user (ARPU) climbed sharply -- 46% higher to $36.46.
Second-quarter operating income was $69.1 million. A year ago, the company posted a second-quarter operating loss of $42.2 million.