Vizio Swings to $2.3 Million Q2 Profit

Consumer electronics manufacturer Vizio Holding Corp. Aug. 10 reported net income of $2.3 million on revenue of $408.9 million for the second quarter (ended June 30). That compared with a net loss of $14 million on revenue of $401.1 million during the previous-year period.

The Irvine, Calif.-based company’s foray as facilitator of third-party streaming video content for its user base of smart-TV owners continues to resonate. The company ended the fiscal quarter with 16.1 million SmartCast active accounts, up 15% from 14 million accounts during the previous-year period.

SmartCast hours increased 22% to 4.3 billion hours, from 3.5 billion hours a year ago, with the average revenue per user up 54% to $25.87, from $16.79.

“Our second-quarter results show the success of the dual revenue model we’ve built.,” CEO William Wang said in a statement.

Indeed, total revenue again exceeded $400 million, led by the platform business which grew 69% year-over-year to a record $111 million. Smart-TV shipments increased 5% to 1.1 million.

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