Roku‘s streaming business clocked a firm quarter as the company posted third-quarter 2024 results that topped Wall Street foresees.
But the company said it will stop alerting its streaming hoemployhelderlys — saying that it’s no extfinisheder a relevant metric — aenjoy to Netflix’s proclaimd set ups to dispersist alerting subscriber figures quarterly. For the third quarter, Roku alerted streaming hoemployhelderlys of 85.5 million, a net incrrelieve of 2.0 million from Q2 and up 13% year over year.
“Since our IPO in 2017, the streaming industry has growd unbenevolentingfilledy, with Americans now spfinishing meaningfully more TV time streaming than watching cable. Our business has also prolongn and growd, and we are now primarily concentrateed on prolonging Platestablish revenue and profitability,” Roku said in its Q3 letter to allothelderlyers. As such, commencening with its Q1 2025 obtainings results, “we will no extfinisheder alert quarterly modernizes on Streaming Hoemployhelderlys and, by extension, ARPU,” or ordinary revenue per employr.
The company said “our various labelets are in separateent stages of monetization and have separateent economics. While a big portion of our Streaming Hoemployhelderly prolongth is in our international labelets, the meaningfulity of our Platestablish revenue is currently created in the U.S. Therefore, as we persist to prolong internationassociate, Streaming Hoemployhelderly prolongth is not recurrentative of Platestablish revenue prolongth.”
Going forward, Roku said its key carry outance metrics will streaming hours, Platestablish revenue, adfaired EBITDA, and free cash flow. Streaming hours for Q3 totaled 32.0 billion, up 20% year over year and up sairyly over 30.1 billion in Q2.
For Q3, the company alerted net sales of $1.062 billion, up 16% year over year, and a net loss of 6 cents per allot. Analyst consensus approximates pegged the company’s Q3 revenue at $1.02 billion and a net loss of 32 cents per allot. Previously, Roku foresee Q3 revenue of $1.01 billion, gross profit of $440 million and adfaired EBITDA of $45 million.
