Roku (ROKU) Q1 2026 Earnings
How Did ROKU Stock React to Q1 2026 Earnings?
S&P 500 over the same 30 days: +4.66%.
Did ROKU Beat Earnings? Q1 2026 Results
Yes. Roku reported Q1 2026 earnings of $0.57 a share on Apr 30, 2026, beating the $0.35 consensus estimate by 64.4%. Revenue was $1.2B against a $1.2B estimate.
Roku delivered a standout first quarter for fiscal 2026, with results that left Wall Street's expectations well behind on both the top and bottom lines. The streaming platform operator posted earnings of $0.57 per share, beating the consensus estimate of $0.35 by 64.41%, extending its streak of consensus EPS beats to four consecutive quarters. Revenue climbed 22.4% year over year to $1.25 billion, clearing the $1.20 billion consensus by 3.70%, as Platform revenue, now disaggregated into Advertising and Subscriptions segments, emerged as the primary engine of growth. Advertising revenue rose 27% year over year to $612.71 million, fueled by ad spend through third-party programmatic partners growing more than 40% year over year, while Subscriptions revenue advanced 30% to $518.52 million. On the profitability front, Roku posted GAAP net income of $85.70 million, compared to a net loss of $27.43 million in the year-ago period, with the company having recently crossed 100 million streaming households globally. Management raised its full-year 2026 outlook, now targeting total net revenue of $5.54 billion and Adjusted EBITDA of $675 million.
- Platform revenue grew 28% YoY driven by strength in both Advertising and Subscriptions
- Video advertising growth outpaced both U.S. OTT and digital ad markets
- Ad spend through third-party programmatic partners increased more than 40% YoY
- Number of advertisers using Roku Ads Manager more than doubled YoY
- Non-M&E brand ad spend reached nearly 30% of total RX advertising revenue, an all-time high
- Q1 was highest quarter ever for Premium Subscription sign-ups
- Streaming Hours grew 8% YoY to 38.7 billion
“We delivered an outstanding first quarter. Platform revenue grew 28% year over year, driven by strength in Advertising and Subscriptions – two operating segments we have begun breaking out separately to give investors greater visibility into our business.”
Roku CEO, on the earnings call
What Was Roku's Outlook in Q1 2026?
For Q2 2026, Roku anticipates Platform revenue growing approximately 20% YoY and Devices revenue down high-single digits YoY, resulting in total net revenue of $1.295 billion (up nearly 17% YoY), total gross profit of $580 million, net income of $90 million, and Adjusted EBITDA of $170 million. For full year 2026, the company raised its outlook: Platform revenue expected to grow nearly 21% YoY to $5.0 billion, Devices revenue of approximately $535 million, total net revenue of $5.535 billion, total gross profit of $2.45 billion, net income of $360 million, and Adjusted EBITDA of $675 million (approximately 330 basis points of margin improvement YoY). Platform gross margin expected at the high end of 51%-52% range; Devices gross margin in the high negative 20% range. OpEx expected to grow mid-single digits YoY, weighted to the second half. The company targets $1 billion of Free Cash Flow by 2028 or sooner.
ROKU YoY Financials
| Metric | Q1 2026 | Q1 2025 | Year over year |
|---|---|---|---|
| Revenue | $1.2B | $1.0B | +22.4% |
| Gross Profit | $564.9M | $445.0M | +26.9% |
| Operating Income | $51.8M | $17.9M | +189.7% |
| Net Income | $85.7M | $16.7M | +412.4% |
ROKU Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.