(Updated - October 30, 2024 4:07 PM EDT)

Roku (NASDAQ: ROKU) reported Q3 EPS of ($0.06), $0.26 better than the analyst estimate of ($0.32). Revenue for the quarter came in at $1.06 billion versus the consensus estimate of $1.02 billion.

GUIDANCE:

Roku sees Q4 2024 revenue of $1.14 billion, versus the consensus of $1.11 billion.

• "We are pleased with the execution of our monetization initiatives. We expect these initiatives, including the early positive impacts from our deeper integration with The Trade Desk, along with tailwinds from Political ad spend to continue in Q4. We estimate Q4 Total net revenue of $1.140 billion growing 16% YoY, with Platform revenue growing 14% YoY and Devices revenue growing 25% YoY. We estimate Q4 Total gross profit of $465 million and Adjusted EBITDA of $30 million. We expect Sales and Marketing to be more seasonal this year than in the prior year. As a result, we expect OpEx to be up 9% YoY in Q4. However, Sales and Marketing and total OpEx will be slightly down for the full year 2024, reflecting our ongoing operational discipline. Our expectations for both Q4 and 2024 OpEx YoY growth rates exclude one-time restructuring charges from 2023. We remain confident in our ability to grow Platform revenue in 2025 and beyond as we grow ad demand, lean into our Home Screen as the lead-in for TV, and grow Roku-billed subscriptions."

For earnings history and earnings-related data on Roku (ROKU) click here.

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