Roku Releases Third-Quarter Results on November 2 Without Earnings Call or Guidance
Key Facts
Roku released its third-quarter 2026 results after the market close on November 2, in line with the date the company announced on October 19. The company had said it would not hold an earnings call or provide financial guidance because of the pending acquisition deal with Fox. The results therefore came without management’s usual presentation of the figures or guidance for coming periods. The announcement’s significance lies in its timing, while the deal remains under review, and the absence of a call that would have allowed management to discuss performance. Quarterly results figures were not available in the open sources reviewed.
The deal dates to an agreement announced on June 15, 2026, after being reached the previous day, according to Roku’s filing with the U.S. Securities and Exchange Commission. Under its terms, each eligible Roku share will receive $96 in cash and 0.9693 shares of Fox Class A stock when the mergers close. The consideration thus combines cash and stock, leaving the value of the equity component subject to change until the deal closes, according to Roku’s filing. The agreement provides for Roku to remain the surviving company in the merger and become a wholly owned subsidiary of Fox. Closing is subject to approval by both companies’ shareholders, regulatory approvals and other closing conditions.
Second-quarter 2026 results provide context on operating performance before the third-quarter results were released. Net revenue was $1.35 billion, up 22% year over year, while platform revenue rose to $1.22 billion, up 25%. Within the platform segment, advertising revenue increased 25% to $673 million, and subscription revenue rose 26% to $548 million. By contrast, device revenue fell 1%, as the number of devices shipped declined 31% and the average selling price rose 35%. These figures are for the second quarter and do not represent the results the company announced on November 2.
Roku said video ad impressions increased 40% in the second quarter compared with the same period in 2025, while the average price per impression fell 12%. The company attributed part of the growth in advertising revenue to higher impressions, saying their impact was partly offset by the lower average price. The filing linked the price decline to changes in the mix of products and countries. Streaming hours rose to 37.9 billion in the second quarter, up 7% year over year. These indicators describe platform activity in the previous quarter; comparable third-quarter figures were not available in the open sources reviewed.
The deal also affected expenses before the third-quarter results were announced: general and administrative expenses rose 25% in the second quarter, which Roku attributed in part to $18.7 million in merger costs. The company also disclosed that the market value of the consideration tied to Fox shares would remain volatile until the mergers close. On the day the agreement was announced, Fox shares fell 15%, while Roku shares declined about 2%, according to The Associated Press. Roku shares closed at $155.12 on October 30, according to EL7 data. That closing price predates the November 2 results announcement and does not, by itself, measure the stock’s movement on the announcement day.
On the regulatory review, Fox and Roku received a second request for information and documents from the U.S. Department of Justice on September 8, 2026. The request extends the waiting period until 30 days after the companies have substantially complied, unless the department ends the waiting period earlier or the companies agree to extend it. Fox said it expects the mergers to close in the first half of 2027. That timing is tied to the expiration or termination of the waiting period and the satisfaction of closing conditions, including approval by both companies’ shareholders and required regulatory approvals. These steps place the November results within a period when the deal remains pending, ahead of its expected closing date.