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Roku Delivers Strong Q2, Raises Guidance — Analysts Cheer, But Market Says Otherwise

Roku Inc (NASDAQ:ROKU) shares are down in early trading on Friday, despite the company reporting upbeat second-quarter results.

The announcement came amid an exciting earnings season. Here are some key analyst takeaways.

JPMorgan On Roku

Analyst Cory Carpenter reaffirmed an Overweight rating, while raising the price target from $100 to $105.

Roku reported revenues of $1.111 million, up 15% year-on-year, surpassing guidance of $1.070 million, Carpenter said in a note. The upside was driven by 18% growth in Platform revenues and a lower-than-expected contraction in Device revenues, he added.

Management raised their 2025 revenue outlook by $100 million to $4.650 million, reflecting 13% year-on-year growth, "with upside driven by an improved Platform growth outlook from 12% to 16% partially offset by a lower Device growth outlook from flat to slightly down, mostly due to tariffs and related 1P/3P mix," the analyst wrote.

The company raised its 2025 adjusted EBITDA guidance by $25 million to $375M, he further stated.

Wedbush On Roku

Analyst Alicia Reese maintained an Outperform rating, while lifting the price target from $100 to $110.

Roku reported strong second-quarter results and raised its 2025 EBITDA guidance, "emphasizing its focus on profitable expansion," Reese said.

Although Roku will be impacted by tariffs this year, it can offset this with platform growth, "driven by revenue diversification, expanding DSP partnerships, growing ad inventory, and improving content recommendations," she added.

Roku is likely to continue ...