Smart-TV maker Vizio reported second-quarter revenue above Wall Street forecasts, but challenges on the hardware side kept the bottom line from meeting expectations. Revenue of $401.2 million was u…
offering, with viewing hours reaching 3.5 billion, up 35%. Average revenue per user rose 90% to $16.76.
In the company’s earnings release, CEO William Wang hailed “strong advertising growth,” describing it as a “direct benefit of our expanding dual revenue model.”Covid-19, he conceded, presented challenges in the quarter but connected TV is emerging as a key strategic pillar, with 200 new jobs added in the period. Vizio is among a handful of companies looking to profit from the larger shift of ad dollars and viewing from linear to streaming.
“With our Platform+ business continuing its rapid growth trajectory, supported by our ongoing investments in our software and hardware integration, we are excited about the path we are on during a transformative time in the media and entertainment industry,” Wang said.
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