Streaming company withheld guidance during Fox Corp's pending acquisition as record profitability, 37.9 billion streaming hours and a sports-led advertising backdrop pushed shares closer to the $160 deal price.
Roku shares rose on Friday after the streaming company posted a second-quarter beat and investors weighed whether Fox Corp's sports-led advertising momentum could reinforce Roku's platform growth ahead of the pending takeover. Revenue rose 22% to $1.355 billion and adjusted EPS was $1.08, ahead of consensus estimates of about $1.3 billion in revenue and 56 cents to 57 cents a share. The quarter set company records for net income, adjusted EBITDA and free cash flow, while streaming hours increased 7% to 37.9 billion. Management withheld guidance and skipped its usual conference call because Fox is acquiring the company. Roku's platform segment, which includes advertising and subscriptions, remained the main growth engine, and the company pointed to sports-driven engagement plus a home-screen refresh it called its biggest in a decade. Fox's latest results added weight to that narrative, with revenue up 28% to $4.21 billion and advertising revenue up 78% to $1.92 billion as the 2026 World Cup drew a record U.S. audience of nearly 63 million viewers, highlighting how live sports can lift connected-TV ad budgets. Fox agreed on June 15 to buy Roku for $160 per share in cash, and Roku shares were up 1.55% at $152.39 on Friday.