Roku Reports First $1B Revenue Quarter in Q3, Up 16% YoY, Will Stop Reporting Streaming Households in 2025

Oct 30, 2024, 08:23 PM

Roku reported its first quarter with over $1 billion in revenue, surpassing Wall Street estimates. For the third quarter of 2024, Roku's total net revenue was $1.062 billion, a 16% year-over-year increase. Platform revenue reached $908 million, up 15% year-over-year, while gross profit rose 30% to $480 million. The company also reported a net loss of $9.03 million, a significant improvement from the $330.1 million loss in Q3 2023. Roku's streaming households increased by 2 million from Q2 2024, reaching 85.5 million, a 13% year-over-year growth. Additionally, streaming hours on The Roku Channel rose 80% year-over-year to 32 billion hours. However, Roku announced it will stop reporting the number of streaming households and average revenue per user starting in 2025, following a similar move by Netflix. Roku also shaved its net loss significantly.