Roku Q2 Profit Jumps 1,464% With Fox Acquisition Looming
The streaming hardware maker did not host an earnings call or provide an updated financial outlook due to the pending $22 billion deal The post Roku Q2 Profit Jumps 1,464% With Fox Acquisition Looming appeared first on TheWrap .
Roku disclosed an impressive profit surge of $164.2 million, or $1.08 per share, during its second quarter, significantly surpassing Wall Street's expectations. Total revenue expanded by 22% to $1.35 billion, a feat propelled by surging subscriptions and advertising revenues, alongside improved profitability in its devices segment.
Roku shares rose 0.16% in after-hours trading post the announcement. The company is poised for its anticipated acquisition by Fox Corp., valued at $22 billion, slated to finalize in the first half of 2027. This acquisition promises to augment Roku's scale, platform strategy, and financial strength, positioning it to spearhead the evolution of TV streaming and deliver enduring, long-term growth.
An unnamed spokesperson applauded Roku's disciplined execution, investment in long-term growth opportunities, and shareholder value creation. Roku's stock surged 0.19% in after-hours trading following the results.
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