Roku Q3 EPS of $1.20 Beats by $0.67 as Revenue Climbs 24%, With No Call or Outlook Amid Fox Deal

Roku (ROKU) reported third-quarter 2026 earnings of $1.20 per share, $0.67 above the $0.53 FactSet consensus, on revenue of $1.5 billion, up 24.1% from a year earlier and above the $1.41 billion consensus. Platform revenue grew 23% to $1.3 billion, with advertising and subscriptions each up 23%. Because Fox Corporation agreed on June 15, 2026 to acquire Roku, the company did not host an earnings call and did not provide a financial outlook. Shares were up $0.40 at $155.52 on Monday, Nov. 2.

Q3 results

By our calculation, EPS beat the consensus by about 126%, and platform revenue made up roughly 87% of the $1.5 billion total. Q3 EPS of $1.20 compares with $1.08 in the second quarter and about $0.16 a year ago, which is roughly 7.5 times the prior-year level. Revenue growth also quickened from the 22% reported in Q2.

No call, no outlook: the Fox deal

Roku said it remains on track for the second-half 2026 forecast it provided in its proxy statement, but it will not host a call or issue new guidance while the transaction is pending. Fox announced its agreement to buy Roku in a deal valued at about $22 billion, with Roku holders set to receive cash and Fox shares, according to published reports. The Justice Department has extended its antitrust review, and the deal cannot close until that review ends. Reports point to a close in the first half of 2027.

At $155.52, Roku trades at or slightly below the roughly $156 to $160 per share value reported for the deal, a gap that reflects time and regulatory risk. Because part of the consideration is Fox stock, the implied value moves with Fox's share price.

Why the numbers matter

• Advertising momentum. Platform growth of 23% suggests advertising demand held up, helped by political spending and the new Home Screen.
• Subscriptions. Subscription growth matched advertising, giving Roku a second engine.
• Limited trading signal. With a deal pending, the stock tracks the offer and Fox's price more than quarterly results, so the beat matters most as a check on deal value.

What to watch

• Antitrust review. The Justice Department's extended review and any conditions, since closing depends on it.
• Fox share price. Moves in Fox stock change the value Roku holders would receive.
• Fuller details. The shareholder letter on Roku's investor relations site, for devices, margins and streaming metrics, and the proxy statement filed on the SEC site.
• Fourth quarter. Political advertising and holiday demand against the second-half forecast.
• Related coverage. See our reports on OpenAI's ad tech push, Palantir and Tempus AI.

Sources: Roku's investor relations site and its third-quarter 2026 shareholder letter, with deal terms from published reports and filings on sec.gov. Consensus figures come from FactSet and published reports and may differ by source. Items labeled by our calculation are our own arithmetic. This article is informational only and is not investment advice.