Key Highlights

  • USD 1.20 of diluted Earnings a share for Roku (NASDAQ:ROKU) in the third quarter, reported November 2, 2026, against a published consensus of USD 0.53, though the consensus basis was not confirmed.
  • USD 1,502.0 million of net revenue, up 24%, against a published consensus near USD 1.41 billion, with platform Revenue of USD 1,308.3 million, up 23%.
  • USD 248.8 million of adjusted EBITDA and USD 183.3 million of net income, with streaming hours of 39.9 billion, up 9% from a year earlier.
  • USD 160 a share is the Fox Corporation offer announced June 15, 2026, valued at about USD 22 billion, with closing targeted for the first half of 2027.

What Roku Reported

Roku reported 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 was 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 had pointed to about USD 0.53 a share and USD 1.41 billion of revenue, so both measures came in well above, although the earnings basis behind the consensus was not confirmed. Roku gave no outlook because of the pending acquisition.

How the Fox Deal Shapes the Stock

Fox Corporation (NASDAQ:FOXA) agreed on June 15, 2026 to buy Roku for USD 160 a share in a mix of cash and Fox stock, 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 is still open. Late October coverage put Roku near USD 157, which implies a gap to the offer of about 1.8% (simple arithmetic). Because part of the price floats with Fox shares, the spread moves. I could not confirm how Roku traded after the results, so no share price reaction is stated here. Roku shares were also up roughly 40% to 45% for the year in late October, according to published coverage, which leaves limited upside if the offer holds and real downside if it fails.

Risks and What to Watch Next

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 also may 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, any change in the Fox share price and Roku's own progress on the second half of 2026 forecast it says remains on track. Operating Leverage is another point to watch, because 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 profit margins widened, but the comparison basis is unconfirmed and one-off items may have helped. The larger driver of 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 a first-half 2027 target for closing. Nothing here is Investment advice.