Roku reported a significant 24% surge in third-quarter revenue, reaching $1.5 billion, as its pending $22 billion merger with Fox Corp. continues to advance through regulatory approvals. The streaming platform provider exceeded analyst expectations, with earnings per share jumping to $1.20 from 16 cents in the same period last year. This strong financial performance comes as media and entertainment ad spending experiences its most substantial growth in four years.
Fox Corporation had previously announced a 22% increase in quarterly revenue, reaching $4.57 billion, driven by robust advertising sales fueled by the FIFA Men's World Cup and political advertising. The company also noted growth from its streaming service, Tubi. The combined financial successes of both companies underscore a strong advertising market and positive momentum heading into their anticipated merger.
Roku Surges 24% in Q3 Revenue Amidst Fox Merger Progress
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Sources
- Roku Sees Soaring Sales, Net Income of $183M, As It Blasts Past Analyst Expectations — The Hollywood Reporter,
- As Roku’s Merger With Fox Clears More Hurdles, Streaming Provider Delivers Strong Q3 Results — Deadline,
- Roku Delivers Another Stellar Quarter: Q3 Sales Soar 24% as Media and Entertainment Ad Spending Sees Biggest Growth in Four Years — Variety,
- Fox Ad Revenue Surged Nearly 50% In FYQ1 Buoyed By World Cup, Political, Tubi — Deadline,
- Midterm Elections and FIFA World Cup Power Record-Breaking Quarter for Fox Corp. — The Hollywood Reporter,
- Fox Corp. Sees Q1 Profit Hike on World Cup, Political Ads — Variety,