Roku Beats Expectations with Strong Q4 Outlook, Sees Rebound in Ad Revenue
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Roku shares soar 30% after strong Q4 revenue and profit guidance, signs of ad rebound
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Q3 revenue up 20% to $912M, platform revenue grew 18% driven by distribution deals and ad sales
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Roku forecasts Q4 revenue of $955M vs estimates of $902M, expects positive adjusted EBITDA in 2024
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Video ad growth on Roku platform outpaced overall ad market and linear TV ads in Q3
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Roku cites data showing traditional TV ad spend down 12% and scatter ad inventory down 27%