The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Cory Alan Carpenter - JPMorgan Chase & Co, Research Division - Analyst
: Dan, I had 2 for you. First, you mentioned 1 or 2 trends played out in 2Q. So just hoping you could expand on what drove the magnitude of the 2Q
revenue upside relative to your guide.
And then secondly, on the 3Q outlook, just trying to better understand why you expect revenue to be down sequentially. Is there anything else to
point to beyond the impact of the strikes?
Question: Cory Alan Carpenter - JPMorgan Chase & Co, Research Division - Analyst
: Okay. Great. And maybe if I can sneak one more in since that was fast. Charlie, just could you -- I know on the new front process, you don't have
numbers to share, it's taking longer to play out. But any color you can give us in terms of the level of demand you're seeing relative to last year or
your expectations?
Question: Nicholas Todd Zangler - Stephens Inc., Research Division - Analyst
: What's the takeaway on upfront negotiations proceeding at a slower pace? Just wondering if you could peel back the dynamic there. And we've
heard of advertisers looking for more flexibility in these upfront commitments than in prior years, which I think would naturally push ad spend into
the scatter market. But if that is true, just wondering if you could frame up the implications there for Roku.
Question: Nicholas Todd Zangler - Stephens Inc., Research Division - Analyst
: Right. And to that point then, are you kind of agnostic to whether it comes via direct or scatter? If we were to see an upfront number come in similar
to last year, I mean, I don't necessarily think that has to be perceived as a negative if ultimately more dollars come in through the scatter market.
But is that the right way to view the dynamic, whether the dollars come in direct or scatter.
Question: Nicholas Todd Zangler - Stephens Inc., Research Division - Analyst
: Got it. And then finally, just on the Roku TV strategy, just curious. What does success look like for you guys on the Roku-branded TV program? Is
this merely a complementary gateway to the consumer? Or for you, is this a strategy that over time you might look to aggressively take market
share and maybe do so through price and potentially become effectively a leading TV OEM? Just thoughts on this overall strategy.
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