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Roku Delivers Strong Q2, Raises Guidance — Analysts Cheer, But Market Says Otherwise
Benzinga· 2025-08-01 15:48
Core Viewpoint - Roku Inc's shares declined despite reporting strong second-quarter results, with analysts providing positive outlooks and raising price targets for the stock [1] Financial Performance - Roku reported revenues of $1.111 billion, a 15% year-on-year increase, exceeding guidance of $1.070 billion, driven by an 18% growth in Platform revenues and a lower-than-expected contraction in Device revenues [2] - The company raised its 2025 revenue outlook by $100 million to $4.650 billion, reflecting a 13% year-on-year growth, with improved Platform growth outlook from 12% to 16% [3] - Adjusted EBITDA guidance for 2025 was raised by $25 million to $375 million [3] Analyst Ratings and Price Targets - JPMorgan's analyst raised the price target from $100 to $105 while maintaining an Overweight rating [2] - Wedbush's analyst lifted the price target from $100 to $110, emphasizing Roku's focus on profitable expansion [4] - Guggenheim Securities reiterated a Buy rating and raised the price target from $100 to $105 [6] - KeyBanc Capital Markets raised the price target from $115 to $116 while reaffirming an Overweight rating [8] - Needham maintained a Buy rating and increased the price target from $100 to $110 [10] - Rosenblatt Securities maintained a Neutral rating with a price target of $101 [12] Growth Drivers and Market Position - Analysts noted that Roku is likely to continue gaining market share as advertising budgets shift from linear TV to connected TV, particularly in 2025 [5] - The company is expected to benefit from the Frndly TV acquisition, which has clarified its path to profitability [9] - Roku's platform revenues are projected to grow by 16% in the third quarter, higher than the consensus of 12% [7] - The company is ramping efforts targeting small to mid-sized businesses through a self-serve Ads Manager, presenting a unique opportunity in the SMB sector [13]