Roku Q2 2026 Earnings: EPS Nearly Doubles the Street's Estimate
As seen on the 24/7 Wall St. homepage on August 6, 2026.
With management skipping guidance entirely because of Fox's pending takeover, ad momentum is all investors get to price: advertising gross margin expanded 650 basis points to 62.4%. Political ad spend is expected to build into Q4 ahead of the 2026 election.
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Roku reported Q2 2026 earnings per share of $1.08, nearly double the Wall Street consensus of $0.5625 — a beat of roughly 92%. Revenue came in at $1.35 billion, topping estimates of $1.30 billion by about 4.4%. The results extend a clear streak of outperformance: over the prior eight quarters, Roku has beaten EPS expectations every single time, with the magnitude of those beats growing steadily through late 2025 and into 2026.
The headline number inside the report is advertising gross margin, which expanded 650 basis points to 62.4%. That kind of margin expansion signals that Roku's platform business — selling ad inventory across its streaming ecosystem — is becoming meaningfully more profitable even as the broader streaming landscape grows more competitive. Political ad spend is expected to add another tailwind heading into Q4 as the 2026 election cycle heats up.
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One notable absence from the report is forward guidance. Management skipped it entirely, citing Fox's pending takeover of the company as the reason. That leaves advertising momentum as essentially the only operating metric investors have to price the stock on, and it removes the usual signpost that traders rely on to set near-term expectations.