Roku reported third-quarter results with total net revenue increasing 24% year over year to $1.5 billion, driven by a 23% rise in platform revenue to $1.3 billion. Net income surged 639% to $183 million, while adjusted EBITDA reached $249 million. The company noted that streaming hours grew 9% and the Roku Channel ranked as the number two app on its platform by engagement in both the U.S. and globally. Due to a definitive agreement announced in June for FOX Corporation to acquire Roku, the company will not host an earnings call or provide financial outlook guidance. Roku operates the leading TV streaming platform in the U.S., Canada, and Mexico, connecting viewers with content while enabling publishers to monetize audiences through advertising and subscriptions.
