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Broadcasting & Cable
Broadcasting & Cable
Business
Jon Lafayette

Vizio Profit Shrinks Despite Growth in Smart TV Usage

Vizio Women's Cup.

Vizio reported smaller profits in the second quarter as usage of its smart TVs grew. 

Net income was $200,000, or 0 cents per share, compared to $1.9 million, or 1 cent a share a year ago.

Net revenue rose 11% to $437.3 million. Costs for selling, research and development were up.

The company is in the process of being acquired by Walmart.

Vizio’s Platform Plus business — advertising and data sales — posted gross profit of $98.6 million, up 15%.

Revenue for the Platform Plus business rose 19% to $169.4 million

The number of SmartCast active accounts rose 7% to 18.8 million. Total Vizio usage hours rose 5% to 9.3 billion and SmartCast hours rose 13% to 5.6 billion hours.

SmartCast average revenue per user (ARPU) rose 16% to $35.39.

Gross profit for Vizio’s device business was $900,000, up from $300,000 Revenue rose 6% to $267.9 million.

Smart TV shipments rose 15% to 1.2 million.

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