Roku failed to meet its modest revenue expectations as growth and advertisement sales continue to slow to the company’s lowest pace in over four years, according to its second-quarter earnings report Thursday.
The company posted overall revenue of $764 million for Q2, up 18% year over year, which couldn’t quite meet expectations that had its growth at around $805 million due to a depressed ad sales market. Roku also added another 1.8 million active accounts in Q2, bringing the company to a total of 63.1 million.
“In Q2, there was a significant slowdown in TV advertising spend due to the macro-economic environment, which pressured our platform revenue growth.