NASDAQ$ROKU
Roku Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Roku delivered strong results, achieving its first quarter with over $1 billion in total net revenue and growing Platform revenue year-over-year.
Roku's Q3 2024 results demonstrated strong financial performance, with total net revenue exceeding $1 billion for the first time. Platform revenue increased 15% year-over-year, and the company achieved its fifth consecutive quarter of positive Adjusted EBITDA and Free Cash Flow (TTM). Streaming Hours on The Roku Channel also saw significant growth, up 80% year-over-year.
- Total net revenue reached $1.062 billion, a 16% increase year-over-year.
- Platform revenue grew to $908 million, up 15% year-over-year.
- Gross profit increased by 30% year-over-year to $480 million.
- Streaming Hours were 32.0 billion, up 5.3 billion hours year-over-year.
Headline financials
Revenue & EPS history
Roku · Revenue · Quarterly
$1.06B
Revenue by segment
Roku · $912M total across 2 segments · Q3 2023
- Platform$787M+17.4%86.3%
- Devices$125M+37.7%13.7%
Forward guidance
The company estimates Q4 Total net revenue of $1.140 billion growing 16% YoY, with Platform revenue growing 14% YoY and Devices revenue growing 25% YoY. They estimate Q4 Total gross profit of $465 million and Adjusted EBITDA of $30 million.
Tailwinds
- Monetization initiatives are expected to continue in Q4.
- Early positive impacts from deeper integration with The Trade Desk.
- Tailwinds from Political ad spend to continue in Q4.
- Expects to grow Platform revenue in 2025 and beyond as they grow ad demand.
- Expects to grow Platform revenue in 2025 and beyond as they lean into their Home Screen as the lead-in for TV.
Headwinds
- Expect Sales and Marketing to be more seasonal this year than in the prior year.
- Expect OpEx to be up 9% YoY in Q4.
- M&E and Health & Wellness ad verticals were pressured.
- Each country is at a different stage of monetization, and each has different economic characteristics.
- ARPU of $41.10 (TTM) was relatively flat YoY.
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 2024
+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 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro