Port Delays on Agenda as Vizio Sets Aug. 4 Release of Q2 Results
Vizio will release Q2 financial results Aug. 4 after the markets close, its second quarterly report since going public March 25 (see 2103250029), said the vendor Thursday. The once-reclusive Vizio made appearances at four investor conferences in May and June…
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to trumpet its transition from a legacy device company toward an ad-monetization business based on its SmartCast connected TV platform. Yet Vizio drew nearly 90% of its Q1 revenue from device sales. The company reported a 28% year-over-year Q1 increase in smart TV shipments to 1.5 million sets, but it said volume would have been higher if not for bottlenecks at California ports that impeded product from reaching distribution hubs (see 2105120064). Investors will be watching to see if port delays began easing in Q2 as Vizio predicted they would. The challenge for retailers and supply chains “is keeping shelves stocked as port congestion and other supply chain disruptions continue to impact the industry and the economy more broadly,” reported the National Retail Federation Thursday (see 2107080047).