Roku Inc reported a net loss of $9.03 million for the third quarter ended September 30, 2024, a significant improvement from the $330.07 million net loss in the same period last year. The basic and diluted net loss per share was $0.06, compared to $2.33 in the previous year. Income tax expense increased to $4.1 million from $3.2 million year-on-year. The company's platform segment saw a 15% revenue increase, attributed to higher streaming services distribution and advertising revenue, despite weakness in the media and entertainment vertical. Device revenue also rose by 23%, driven by sales of Roku-branded TVs. The company's restructuring efforts, initiated in the fourth quarter of fiscal 2022, continued with charges related to employee terminations and facilities exit costs. Roku Inc's international revenue...Show More

Roku Inc reported a net loss of $9.03 million for the third quarter ended September 30, 2024, a significant improvement from the $330.07 million net loss in the same period last year. The basic and diluted net loss per share was $0.06, compared to $2.33 in the previous year. Income tax expense increased to $4.1 million from $3.2 million year-on-year. The company's platform segment saw a 15% revenue increase, attributed to higher streaming services distribution and advertising revenue, despite weakness in the media and entertainment vertical. Device revenue also rose by 23%, driven by sales of Roku-branded TVs. The company's restructuring efforts, initiated in the fourth quarter of fiscal 2022, continued with charges related to employee terminations and facilities exit costs. Roku Inc's international revenue remained below 10%, and the company recorded impairment charges for certain operating lease right-of-use assets and property and equipment. Looking ahead, Roku Inc plans to discontinue reporting quarterly updates on Streaming Households and ARPU starting in the first quarter of 2025, shifting focus to Streaming Hours, Platform Revenue, Adjusted EBITDA, and Free Cash Flow as key performance metrics. The company aims to manage the average selling prices of Roku streaming devices to grow Streaming Households, which is expected to increase platform revenue and gross profit over time.