Vizio Profit Shrinks Despite Growth in Smart TV Usage

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Platform Plus revenues grow 19%

Vizio Women's Cup
(Image credit: Vizio)

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.

Jon Lafayette
Jon Lafayette

Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.