Roku Inc (FRA:R35)
€ 62.34 1.37 (2.25%) Market Cap: 8.97 Bil Enterprise Value: 7.58 Bil PE Ratio: 0 PB Ratio: 3.96 GF Score: 82/100
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Q3 2024 Roku Inc Earnings Call Transcript

Oct 30, 2024 / 09:00PM GMT
Release Date Price: €65.4 (-5.98%)

Key Points

Positve
  • Roku Inc (ROKU) achieved its first quarter with over $1.1 billion in total GAAP revenue.
  • The Roku OS remains the number one selling TV OS in the U.S., Canada, and Mexico.
  • Streaming hours increased by 80% year-over-year, indicating strong user engagement.
  • Platform revenue grew by 15% year-over-year, driven by streaming service distribution and advertising activities.
  • Roku Inc (ROKU) ended the quarter with $2.1 billion in cash and a $300 million credit facility, indicating strong financial health.
Negative
  • Platform gross margin decreased by 198 basis points year-over-year.
  • Device gross margin was negative, down 260 basis points year-over-year.
  • Total ARPU was flat year-over-year at $41.10, indicating challenges in monetization.
  • International markets are in early stages of monetization, impacting overall revenue growth.
  • M&E (Media & Entertainment) continues to be a challenged vertical, affecting advertising revenue growth.
Operator

Good day, everyone, and thank you for standing by. Welcome to the third quarter 2024 Roku Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a questions and answers session. To participate, you will need to press star 11 on your telephone. You will then hear a message advising you to raise your hands. To withdraw your questions, simply press star 11 again. Please, be advised that today's conference is being recorded. Now I will pass the call over to Conrad Grodd, Vice President of Inventor Relations. Please go ahead.

Conrad Grodd
Roku Inc - Vice President, Investor Relations

Thank you, Carmen. Welcome to Roku's 3rd Quarter 2024 earnings call. On today's call are Anthony Wood, Roku's Founder and CEO, Dan Jedda, our CFO, Charlie Collier, President of Roku Media, and Mustafa Ozgen, President of Devices. Our full results and additional management commentary are available in our shareholder letter on our IR website at roku.com forward slash investor.

On this call, we'll make

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