NASDAQ$ROKU
Roku Inc · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Delivered meaningful growth in scale and engagement
Roku's Q3 2022 results showed a 12% year-over-year increase in total net revenue, reaching $761 million. The company added 2.3 million incremental active accounts, bringing the total to 65.4 million. Streaming hours increased to 21.9 billion, and ARPU grew by 10% year-over-year to $44.25. Platform revenue grew 15% year over year to $670 million.
- Total net revenue grew 12% year-over-year to $761 million.
- Platform revenue increased 15% year-over-year to $670 million.
- Roku added 2.3 million incremental Active Accounts in Q3 2022 to reach 65.4 million.
- Streaming Hours were 21.9 billion hours, an increase of 1.1 billion hours from last quarter.
Headline financials
Revenue & EPS history
Roku · Revenue · Quarterly
$761M
Revenue by segment
Roku · $761M total across 2 segments · Q3 2022
- Platform$670M+15.1%88.1%
- Devices$91M-6.6%11.9%
Forward guidance
The company expects macro environment to further pressure consumer discretionary spend and degrade advertising budgets in Q4. Q4 outlook is for total net revenue of roughly $800 million, total gross profit of roughly $325 million, and adjusted EBITDA of negative $135 million.
Tailwinds
- Significant scale
- Direct relationship with tens of millions of consumers
- Ad proposition that delivers measurable ROI to marketers
- Exceptional user experience
- Broad array of free entertainment through The Roku Channel
Headwinds
- Macro environment to further pressure consumer discretionary spend
- Degraded advertising budgets, especially in the TV scatter market
- Expect Q4 Player revenue to be lower year over year
- Expect Platform revenue to be lower year over year
- It will take a few more quarters for YoY OpEx growth rate to normalize
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2022
+6.1%
Avg return
Earnings day
+9.1%
Avg return
5 days after
+11.8%
Avg return
30 days after
49%
19 / 39 earnings
Positive
+76.5%
Q1 2016
Best reaction
-30.3%
Q4 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +6.0% | +9.8% | +11.7% | |
| Q4 2025 | +8.6% | +8.8% | +10.5% | |
| Q3 2025 | +8.5% | +5.6% | -3.2% | |
| Q1 2025 | -8.7% | -11.0% | +7.7% | |
| Q4 2024 | +14.1% | +6.5% | -21.9% | |
| Q3 2024 | -16.1% | -12.1% | -9.7% | |
| Q2 2024 | -8.7% | -8.9% | +16.4% | |
| Q1 2024 | -8.9% | -6.7% | -8.2% | |
| Q4 2023 | -21.1% | -26.3% | -29.9% | |
| Q3 2023 | +31.0% | +39.8% | +73.8% | |
| Q2 2023 | +25.4% | +36.4% | +7.7% | |
| Q1 2023 | -1.2% | -1.8% | -2.9% | |
| Q4 2022 | +24.6% | +26.3% | +13.4% | |
| Q3 2022 | -8.7% | -11.3% | +6.9% | |
| Q2 2022 | -24.6% | -12.9% | -21.4% | |
| Q1 2022 | +9.6% | +22.6% | +13.8% | |
| Q4 2021 | -30.3% | -24.5% | -22.7% | |
| Q3 2021 | -7.7% | -11.6% | -34.4% | |
| Q2 2021 | -3.4% | -4.8% | -18.1% | |
| Q1 2021 | +4.2% | +3.3% | +7.5% | |
| Q4 2020 | +2.3% | -9.0% | -24.0% | |
| Q3 2020 | +17.5% | +0.6% | +37.4% | |
| Q2 2020 | -7.6% | -9.6% | -3.9% | |
| Q1 2020 | -0.7% | -0.3% | -18.1% | |
| Q4 2019 | -5.8% | -8.1% | -41.5% | |
| Q3 2019 | -15.1% | -7.4% | +3.4% | |
| Q2 2019 | +23.9% | +36.4% | +72.5% | |
| Q1 2019 | +29.1% | +23.4% | +58.2% | |
| Q4 2018 | +20.2% | +21.3% | +19.1% | |
| Q3 2018 | -17.8% | -25.5% | -31.8% | |
| Q2 2018 | +20.9% | +16.8% | +37.6% | |
| Q1 2017 | -0.5% | -2.9% | +10.7% | |
| Q1 2018 | +7.1% | +6.6% | +18.5% | |
| Q2 2016 | -7.8% | -5.4% | -23.7% | |
| Q2 2017 | -7.8% | -5.4% | -23.7% | |
| Q4 2017 | -17.8% | -21.0% | -37.4% | |
| Q3 2016 | +76.5% | +96.1% | +137.7% | |
| Q1 2016 | +76.5% | +96.1% | +137.7% | |
| Q3 2017 | +52.6% | +123.3% | +134.1% | |
| Q4 2016 | — | — | — |
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