Roku platform revenue, which includes ad sales, content sales and subscription-revenue, reached $975.5 million in its second quarter, up 18 percent year-over-year and above the companys guidance and analyst expectations.

The company attributed this to strong performance in video advertising and the acquisition of streaming service Frndly in May. And, in turn, the company raised its full-year outlook on platform revenue to $4.075 billion and adjusted EBITDA to $375 million. Additionally, Roku announced that it will initiate a stock repurchase program authorizing the purchase of up to $400 million of Class A common stock. In June, the company announced an integration with Amazon that connects Amazon advertisers with users on the Roku platform across its major streaming apps, including The Roku Channel.

Total net revenue was $1.1 billion, up 15 percent year over year. Gross profit was $498 million, up 17 percent and streaming hours were 35.4 billion, up 5.2 billion hours.

Devices revenue was $136 million, down six percent year over year,and slightly above the company outlook. Growth in streaming services distribution activities was driven by an increase in Premium Subscription sign-ups, according to Roku, as well as the continued impact of last years price increases on subscription-based services.

As the company previously stated, it will no longer provide quarterly updates on streaming households and ARPU. As of the first week of January, Roku stated that it had reached more than 90 million streaming households, and it says it is on track to reach 100 million streaming households in 2026.

The company expects third-quarter revenue of $1.2 billion, with platform revenue expected to grow 16 percent year over year.

More to come.