Roku beat Wall Street expectations for its third quarter and said it will stop giving quarterly updates on the number of streaming households, and average revenue per user, starting in the first quarter of 2025.
“Since our IPO in 2017, the streaming industry has evolved meaningfully, with Americans now spending significantly more TV time streaming than watching cable. Our business has also grown and evolved, and we are now primarily focused on growing Platform revenue and profitability,” the company said in the Q3 shareholder letter.
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This moves follows in the footsteps of Netflix, which set the same timeline.
For the third quarter, Roku reported total net revenue of $1.062 billion, up 16 percent year-over-year and its first time hitting $1 billion in revenue, gross profit of $480 million and a net loss of 6 cents per share. Analysts
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