Key Highlights

  • Roku (NASDAQ:ROKU) earned USD 1.20 a diluted share in the third quarter, reported November 2, 2026, against a published consensus of USD 0.53, though the consensus basis is unconfirmed.
  • Net Revenue came in at USD 1,502.0 million, up 24%, against a published consensus near USD 1.41 billion, while platform revenue reached USD 1,308.3 million, up 23%.
  • Adjusted EBITDA was USD 248.8 million and Net Income USD 183.3 million, with streaming hours at 39.9 billion, up 9% from a year earlier.
  • Fox Corporation's offer of USD 160 a share, announced June 15, 2026 and valued at about USD 22 billion, is targeted to close in the first half of 2027.

What Roku Put Out

Roku released third-quarter 2026 results on November 2, 2026. Total net revenue was USD 1,502.0 million, up 24%, and platform revenue, which comes from Advertising and content distribution, was USD 1,308.3 million, up 23%. Net income came to USD 183.3 million, or USD 1.20 a diluted share, and adjusted EBITDA was USD 248.8 million. Streaming hours rose 9% to 39.9 billion. A published consensus pointed to about USD 0.53 a share and USD 1.41 billion of revenue, so both measures landed well above, though the Earnings basis behind that consensus is unconfirmed. Roku provided no outlook because of the pending acquisition.

How the Fox Offer Frames the Shares

Fox Corporation (NASDAQ:FOXA) agreed on June 15, 2026 to buy Roku for USD 160 a share, paid in a mix of cash and Fox stock, for an Enterprise value of about USD 22 billion. Published coverage says shareholders of both companies have approved the deal and that the Justice Department issued a second request for information in September, so antitrust review remains open. Late October coverage put Roku near USD 157, a gap of about 1.8% to the offer, simple arithmetic. Because part of the price floats with Fox shares, the spread moves too. How Roku traded after the results could not be confirmed, so no share reaction is stated here. Roku was reportedly up roughly 40% to 45% for the year in late October, which leaves limited upside if the offer holds and real downside if it fails.

Risks and Signals to Track

The main risk is regulatory. If enforcers block the deal, Roku would trade on its own fundamentals again, and coverage cites a termination fee of about USD 1.24 billion payable to Roku in some antitrust scenarios, a single-source figure. Third-quarter profit may also include one-off items, since the prior quarter benefited from a Tariff refund of about USD 37 million according to published coverage. Investors will watch the Justice Department review, moves in Fox's share price and Roku's progress on the second-half 2026 forecast it says remains on track. Operating Leverage matters too: adjusted EBITDA of USD 248.8 million on USD 1,502.0 million of revenue is a Margin of about 16.6%, simple arithmetic.

Where Things Stand

Roku earned about USD 1.20 a share against a published consensus of USD 0.53 because revenue grew 24%, platform revenue grew 23% and margins widened, though the comparison basis is unconfirmed and one-off items may have helped. The larger force on the share price is the USD 160 Fox offer, which sets a ceiling near the deal price while approval is pending. For Roku (NASDAQ:ROKU), the key dates are regulatory decisions and the first-half 2027 target for closing. Nothing here is Investment advice.