Roku offices in San Jose. Justin Sullivan/Getty Images Share on Facebook Share on X Share to Flipboard Send an Email Show additional share options Share on LinkedIn Share on Pinterest Share on Reddit Share on Tumblr Share on Whats App Print the Article Post a Comment Roku reported net revenue of $1.21 billion and net income hit 24.8 million for its third quarter, with both beating Wall Street expectations. The company also achieved positive operating income for the first time since 2021, reaching $9.5 million. Platform revenue was up 17 percent year over year, hitting $1.065 billion, due to strength in video advertising and streaming services distribution activities, including premium subscriptions and the company's acquisition of Frndly TV. Devices revenue declined percent to $146 million. Related Stories Music Demi Lovato Is Going "Live From Roku City" (Exclusive) TV 'Laguna Beach' Cast Reunion Set at Roku Streaming hours reached 36.5 billion, up 4.5 billion hours year-over-year. Roku also recently launched Howdy, the $2.99 a month streaming service. While the company did not provide exact metrics on how that service, which launched in August, is faring, it likened its growth plan to the Roku Channel. "With nearly 10,000 hours of fan favorites as diverse as The Notebook, Nurse Jackie, and "Kids in the Hall," Howdy fills a white space and is designed to complement viewers' other streaming services. We see a significant untapped opportunity for a low-cost, ad-free streaming service, and we are leveraging the power of our platform to drive cost-efficient sign-ups and engagement, similar to our success building The Roku Channel," Roku said in the letter. Roku repurchased $50 million of common stock under the company's $400 million stock repurchase program and increased its full year outlook for Platform revenue to $4.11 billion and adjusted EBITDA to $395 million, up from $4.075 billion and $375 million, respectively. "All of this reinforces our commitment to delivering long-term shareholder value by growing free cash flow per share. Looking ahead, we are confident in our ability to deliver double-digit Platform revenue growth while increasing operating margins in 2026 and beyond," the company said in the shareholder letter. More to come. THR Newsletters Sign up for THR news straight to your inbox every day Subscribe Sign Up Representation Beauty Vlogger Nabela Noor Signs With CAA (Exclusive) international Asylum Executive Paul Bales Named Chair of IFTA Paramount Television Studios Paramount TV Studios Reworks Leadership Team Amid Layoffs Tubi 'Crime Junkie' Creator Ashley Flowers Leaving SiriusXM for Tubi Warner Bros. Discovery Comcast Chief Reacts to Warner Bros. "For Sale" Sign, Suggests Interest in Studios and Streaming saturday night live James Austin Johnson Goes from Donald Trump to The Grinch in New Podcast Season (Exclusive) Representation Beauty Vlogger Nabela Noor Signs With CAA (Exclusive) international Asylum Executive Paul Bales Named Chair of IFTA Paramount Television Studios Paramount TV Studios Reworks Leadership Team Amid Layoffs Tubi 'Crime Junkie' Creator Ashley Flowers Leaving SiriusXM for Tubi Warner Bros. Discovery Comcast Chief Reacts to Warner Bros. "For Sale" Sign, Suggests Interest in Studios and Streaming saturday night live James Austin Johnson Goes from Donald Trump to The Grinch in New Podcast Season (Exclusive)