Streaming platform and device company Roku Inc ( ROKU ) reported second-quarter financial results after market close Thursday.

Here are the highlights:

What Happened: Roku ( ROKU ) reported second-quarter revenue of $1.11 billion, up 15% year-over-year. The revenue total beat a Street consensus estimate of $1.07 billion according to data from Benzinga Pro.

The company reported platform revenue of $975.5 million, up 18% year-over-year. Devices revenue of $135.6 million was down 6% year-over-year.

The company said platform revenue growth came from a strong performance in video advertising and the acquisition of Frndly.

Roku ( ROKU ) reported earnings per share of 7 cents in the quarter, beating a Street consensus estimate of a loss of 16 cents per share.

Streaming hours were 35.4 billion in the quarter, up 5.2 billion hours year-over-year.

The company's Roku Channel was the number two app on the platform in terms of engagement in the U.S. The Roku Channel's Sunday MLB games saw a 40% year-over-year increase in average reach through the first seven broadcasts.

Roku ( ROKU ) highlighted a partnership with Amazon for advertising and said that it is making ad buying on the platform easier for the biggest brands in the world.

"We see a significant opportunity to serve digital-first, performance advertisers, and capture incremental ad dollars beyond traditional TV in digital budgets," the company said.

Read Also: Roku Set For Q2 Spotlight As Ad Resilience, Frndly Boost, Amazon Deal Fuel Investor Optimism

What's Next: Roku ( ROKU ) raised its full-year outlook for Platform revenue to $4.075 billion. Devices revenue is expected to decline year-over-year, impacted by tariffs. The company expects full-year revenue of $4.65 billion, up from a prior guide of $4.55 billion.

The company expects third-quarter revenue of $1.21 billion, up 13% year-over-year. Guidance calls for platform revenue growth of 16% year-over-year in the third quarter and devices revenue down 3% year-over-year.  

Roku ( ROKU ) announced a $400 million stock repurchase program to help offset dilution from employee compensation and to deliver long-term shareholder value by boosting free cash flow per share.

ROKU Price Action: Roku ( ROKU ) stock is down 2.3% to $94.16 in after-hours trading Thursday versus a 52-week trading range of $48.33 to $104.96.

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