ROKU

Download the Complete Report Here Key Takeaways: 2Q26 revenue of $17.7 million, supported by ~$32 million of sponsorship contract value, provided the first commercial validation of ENHA’s integrated sports and performance-medicine model. Revenue reached $17.7 million versus none a year ago, supported by ~$32 million of sponsorship contract value across 10 sponsors. However, the initial revenue base was concentrated and largely non-cash, with roughly $17.5 million tied to two sponsorship arrangements that included Rezolve equity and Rumble advertising inventory. Against Street’s $43.7 million 2026E revenue estimate (source: TIKR), 1H26 revenue represents ~41% of the full-year estimate, leaving ~$26 million to be generated in 2H26. The focus now shifts to sponsor diversification, stronger cash conversion and meaningful scaling of Live Enhanced. The inaugural Enhanced Games established immediate audience and brand scale, creating a commercial benchmark for future sponsorship and media-rights monetization. The Games generated more than 4 million live views excluding Roku, while Roku distribution made it available across ~100 million North American households. Total global reach exceeded 1 billion people, supported by ~4,000 media stories reaching a combined 16.7 billion unique monthly visitors. A one-hour ESPN E:60 documentary provided additional mainstream media validation. Owned audience increased 884%, social engagements rose 419%, and video views increased 227% during the event period. ENHA now enters future commercial discussions with demonstrated viewership rather than a conceptual property, after securing ~$32 million of sponsorship contract value. As of June 30, ~$4.5 million remained allocated to unsatisfied sponsorship performance obligations, providing modest forward revenue visibility as ENHA expands sponsorship, media-rights and other event monetization. The key next step is converting this reach into repeatable, higher-quality monetization across both the sports property and Live Enhanced. Brand research indicates the inaugural Games established meaningful awareness and brand strength, supporting ENHA’s customer-acquisition strategy. A pre-Games Qualtrics survey found 61% awareness and a 67% positive perception among those familiar with the property, while post-event research positioned Enhanced alongside Hyrox and The CrossFit Games despite its limited operating history. Combined with the 884% increase in owned audience and 1 billion+ global reach, these results suggest the Games investment established meaningful brand equity that ENHA can potentially monetize through Live Enhanced rather than relying on each event as a standalone marketing spend. Athlete outcomes and clinical execution strengthen ENHA’s sports property while building the proprietary-data foundation for Live Enhanced. ENHA has produced three world records across its competitions since inception, including one at the inaugural Games, alongside 21 personal bests across 42 athletes. All athletes also completed the interventional phase of its IRB-approved clinical trial safely, with the medical team making 274 protocol adjustments in the two months before the Games and generating data across biomarkers, interventions and individual responses. The broader performance narrative now extends beyond headline records toward transparent protocols, health outcomes and individualized performance improvement, better aligning the sports property with Live Enhanced’s consumer opportunity across recovery, longevity and everyday performance. The successful Games have also strengthened athlete recruiting, with Olympic champions and world-record holders expressing interest in future events, supporting a reinforcing loop in which stronger rosters can deepen both audience engagement and the data feeding Live Enhanced. Live Enhanced is becoming the more important next-stage proof point as commercialization begins to scale. The platform became fully operational in mid-May, leaving only several weeks of contribution in 2Q, while sponsorship remained the dominant source of the $17.7 million of revenue. Live Enhanced now offers 11 Rx products in the U.S. and two proprietary supplement stacks, with supplements available across 34 countries. The largest customer cohort is currently aged approximately 25 to 45, although demand extends across both genders and into older age groups, supporting an addressable consumer base broader than an athlete-centric demographic. Management cited strong weekly and monthly cohort growth and expects momentum to continue through 2H26 as new categories launch. Enhanced OS materially sharpens the consumer strategy by positioning ENHA around personalized performance medicine. Planned for launch later in 2026, Enhanced OS is designed to combine baseline health information, personal goals, therapies and supplements, wearables and ongoing response data to continuously adjust individual performance protocols. ENHA intends to apply the medical learnings generated through 274 athlete protocol adjustments to a broader consumer population, creating a data and intelligence layer around products that may otherwise become commoditized. Personalization could support multiple-product adoption, stronger retention and higher lifetime value while reducing reliance on price as the primary differentiator. It also completes the intended operating flywheel: sports creates attention and trust, athletes generate data and credibility, Enhanced OS converts those learnings into individual consumer protocols, and a growing consumer population creates additional data that can further improve personalization. The Rezolve relationship could also extend beyond sponsorship, with its AI-commerce capabilities potentially supporting Live Enhanced commerce and conversion as Enhanced OS develops. Peptides represent potentially meaningful regulatory upside for Live Enhanced. Following July FDA advisory activity, ENHA intends to launch six peptides receiving favorable advisory-panel support if the regulatory pathway permits, while strengthening U.S. pharmacy and supply-chain partnerships to support personalized compounding, nationwide fulfillment and improved product margins. Regulatory clarity could expand the addressable market beyond consumers already sourcing peptides through gray-market channels to a broader population unwilling to use untested or unregulated supply. ENHA’s differentiation is likely to depend less on access to individual peptides and more on personalization, protocol design and the data layer around them. As regulatory access broadens and the underlying molecules become more commoditized, Enhanced OS, biomarker and lifestyle data, and individualized protocols should become increasingly important sources of competitive differentiation. Management also expects to expand into cognitive enhancement and other lifestyle-oriented performance categories, broadening the product funnel and creating more opportunities to increase products per customer, wallet share and ultimately lifetime value. ENHA is evolving the sports side from a single annual tentpole toward a year-round engagement and customer-acquisition ecosystem. The first Enhanced Breakers event was held in Los Angeles in July and produced a new weightlifting world record while operating at a fraction of the scale and fixed cost of the inaugural Games. Breakers can expand into additional sports, keep athletes competing between flagship events, provide more frequent content, and give sponsors additional activation opportunities throughout the year. ENHA is also evaluating partnerships with participatory communities such as run clubs and local competitions, extending the concept beyond elite athletes toward a broader base of amateur athletes and health-conscious consumers. Together, these formats could create more frequent, lower-cost touchpoints that keep performance medicine visible year-round. If successfully executed, the model could reduce reliance on purchased digital traffic and strengthen sports as a recurring acquisition channel for Live Enhanced. Marketing is increasingly shifting from purchased acquisition toward owned media and community, but the economic advantage still needs to be demonstrated through conversion and retention. ENHA spent approximately $1.6 million on performance marketing in 2Q, while the larger customer-acquisition investment was embedded in the Games, which generated more than 4 million live views, 1 billion+ global reach and an 884% increase in owned audience. Breakers, athlete content and planned participatory events are intended to sustain that attention between flagship Games and reduce reliance on paid traffic over time. The model could support structurally lower CAC if Games- and community-acquired consumers convert at attractive rates and show stronger retention, but conversion, CAC and retention remain undisclosed. The next stage of the thesis therefore requires ENHA to demonstrate that owned attention can translate into superior customer economics. With the inaugural build complete, future Games economics should improve as ENHA monetizes the infrastructure, audience and commercial relationships established through the first event. Games, athlete and event operating costs reached $52.0 million in 2Q26, contributing to total operating expenses of $79.6 million versus $3.1 million a year ago. Operating and net losses were both $61.9 million compared with approximately $3.0 million in 2Q25, while net loss per share widened to $0.53 from $0.03. Adjusted EBITDA was negative $42.7 million versus negative $2.7 million, bringing the 1H26 adjusted EBITDA loss to $56.2 million. These results reflect the deliberate front-loaded investment required to build the venue, broadcast infrastructure and supporting event platform largely from scratch. A meaningful portion of this cost base should not recur at the same level, with the pool and track available for reuse across future Games and Breakers, while the lower-cost Breakers format provides a way to maintain sports engagement without replicating the scale and fixed cost of the flagship event. ENHA is also evaluating future host cities partly on economic-development financing and other incentives, creating another opportunity to reduce net event costs and support operating leverage as the model scales. The revenue opportunity should also broaden as the Games evolve from a proof-of-concept event into a repeatable sports property. The inaugural event was invitation-only and monetized primarily through sponsorship, whereas future Games could add ticket sales alongside sponsorship and media-rights revenue while leveraging infrastructure and commercial relationships already established. ENHA now enters those discussions with a tangible benchmark of more than 4 million live views and ~$32 million of sponsorship contract value, giving the company greater leverage when pricing sponsorships, media rights and venue economics. The inaugural Games therefore established the upfront sports infrastructure and audience proof point; the next phase is converting those assets into a more scalable revenue-to-cost relationship as the property repeats and monetization expands. Underlying corporate costs were materially below reported 2Q levels, supporting a clearer path to operating leverage as revenue scales. SG&A was $16.6 million, including $4.2 million of Rumble advertising expense and $6.9 million of stock-based compensation, leaving approximately $5.5 million of underlying SG&A, including $1.8 million of salaries and wages and $1.6 million of performance marketing. Transaction expenses added another $10.9 million in 2Q and $12.5 million in 1H26 and should largely roll off. Combined with lower future event costs, this points to a materially leaner expense base entering 2H26 and strengthens the potential for operating leverage as revenue scales. Liquidity reflects the early-stage investment cycle following the inaugural Games, with post-quarter financing activity and liability management helping to support the near-term position. ENHA ended 2Q26 with $19.6 million of cash after using $44.0 million of operating cash and $7.4 million of investing cash during 1H26, while accounts payable and accrued expenses increased to $40.1 million. Following quarter-end, management repaid approximately $10 million of payables, reducing accounts payable to roughly $16 million while maintaining cash near $20 million as of the filing date. ENHA also holds approximately $10 million of Rezolve shares that remain locked through December, while the unrecognized $10 million Zoop title sponsorship provides additional potential value if collectability requirements are satisfied. Despite these sources, additional financing will be required to fund planned operations over the next twelve months. Street estimates sourced from TIKR show EBITDA improving from negative $64.7 million in 2026E to negative $7.5 million in 2027E before turning positive at $51.8 million in 2028E, making the pace of cash-burn normalization a key determinant of future financing needs and dilution. The forward setup now depends on a meaningful 2H operating improvement as ENHA transitions from front-loaded platform investment toward revenue scaling and a more normalized cost base. Current Street estimates sourced from TIKR indicate 2026E revenue of $43.7 million, followed by $131.7 million in 2027E and $256.6 million in 2028E. EBITDA is expected to improve from negative $64.7 million in 2026E to negative $7.5 million in 2027E before turning positive at $51.8 million in 2028E, with margins improving to +20.2% by 2028. With approximately $17.7 million of revenue and negative $56.2 million of adjusted EBITDA through 1H26, estimates imply approximately $26.0 million of 2H26 revenue and an ~$8.5 million EBITDA loss in 2H26, representing a substantial sequential improvement. The absence of another inaugural-scale Games build should materially reduce the expense base, while sponsorship recognition, Live Enhanced commercialization and broader product expansion provide the principal revenue levers into year-end. Delivery against current estimates would provide early evidence that the front-loaded investment made in 1H26 can translate into a significantly more scalable cost structure and eventual operating leverage. Disclaimer: Exec Edge does not publish proprietary estimates, ratings, price targets, or investment recommendations. The valuation discussion below is illustrative only and is based on company filings, management commentary, and third-party data and estimates. It does not constitute a recommendation, price target, rating, or prediction of future pricing. Valuation has compressed materially from the SPAC transaction, creating a meaningful disconnect between current enterprise value and ENHA’s longer-term earnings potential. At a share price of $1.96 and approximately 129 million Class A shares outstanding, ENHA’s implied market capitalization is approximately $252.8 million. Using approximately $20 million of pro forma cash and no financial debt, we calculate enterprise value of approximately $232.8 million. Current enterprise value is therefore more than 80% below the ~$1.2 billion SPAC transaction valuation, reflecting substantial investor skepticism around execution, financing requirements and the timing of profitability. Forward valuation becomes increasingly compelling if ENHA delivers against current 2027-2028 scaling assumptions. Based on current estimates, ENHA trades at approximately 5.3x 2026E revenue, 1.8x 2027E revenue and 0.9x 2028E revenue. EBITDA is expected to remain negative through 2027E before inflecting to positive $51.8 million in 2028E, implying approximately 4.5x 2028E EV/EBITDA and a 20.2% margin. The current valuation therefore embeds a meaningful discount for execution risk, particularly given the substantial revenue growth and margin improvement required over the next two years. Relative valuation remains highly discounted if Live Enhanced develops into the primary earnings engine rather than ENHA being valued principally as an emerging sports property. ENHA trades at approximately 1.8x 2027E revenue and 0.9x 2028E revenue versus subscription-health peer averages of 3.2x and 2.7x, respectively. By 2028E, ENHA’s 4.5x EV/EBITDA also compares with a 14.3x subscription-health peer average. The discount is notable given estimates implying a 142.3% revenue CAGR for ENHA from 2026-2028 versus approximately 17.3% for the subscription-health group. Sports peers trade at substantially higher revenue multiples, averaging 6.4x 2027E and 6.1x 2028E revenue, although their slower growth and different economics make that comparison less directly relevant. The valuation gap remains understandable given ENHA’s limited operating history, near-term financing needs and delayed EBITDA breakeven, but measurable consumer conversion, improving retention and CAC, Enhanced OS adoption and lower recurring event costs could increasingly support a rerating toward the subscription-health framework. Rerating drivers are becoming increasingly measurable as the investment case shifts from proving ENHA can create attention and commercial demand toward demonstrating that those assets can compound through recurring consumer monetization. The inaugural Games generated 1 billion+ global reach, more than 4 million live views excluding Roku and approximately $32 million of sponsorship contract value, while 21 personal bests and 274 athlete protocol adjustments strengthened the data and credibility supporting Live Enhanced. The next phase is translating that foundation into recurring consumer revenue, stronger customer economics and a materially lower recurring event cost base. Delivery against estimates of $131.7 million of revenue in 2027E and $256.6 million in 2028E, alongside EBITDA improving from negative $7.5 million to positive $51.8 million, would materially de-risk the current valuation. The next several quarters should therefore be judged less by incremental media reach and more by Live Enhanced conversion, retention and acquisition efficiency, cash-burn normalization, and ENHA’s ability to sustain the sports flywheel through lower-cost formats such as Breakers and community participation. Read Exec Edge’s Initiation on Enhanced Group, Inc. Here Enhanced CEO Maximilian Martin & CFO Sid Banthiya, Live at NYSE Enhanced CEO Maximilian Martin on Enhanced Games: ICR Conference 2026 Subscribe to our Weekly Newsletter to Receive All Research Contact: Executives-Edge.com [email protected] The post Enhanced Games Reinforce Audience & Sponsorship, Focus Shifts to Live Enhanced Conversion – Quarterly Update Report appeared first on ExecEdge.

Get insights on thousands of stocks from the global community of over 7 million individual investors at Simply Wall St. Roku stock has delivered a strong 90.4% return over the past three years while valuation signals are split, with a Discounted Cash Flow (DCF) estimate suggesting the shares trade below intrinsic value and market multiples pointing to an expensive profile. Over the last three years Roku has returned 90.4%, which puts the current share price in a very different place to where long term holders started. Recent momentum in Roku’s advertising and subscription business may support expectations for future cash flows, while the pending Fox acquisition and integration risks can affect how confidently investors price those cash flows in today. Roku scores 2 out of 6 on broader valuation checks, which suggests the stock does not screen as a clear bargain even though the intrinsic value estimate points to it being undervalued by about 34.3%. The issue now is whether Roku’s share price already reflects that optimistic intrinsic value view or if the gap between the DCF and market multiples still leaves room for further upside. Roku delivered 80.6% returns over the last year. See how this stacks up to the rest of the Entertainment industry. The Discounted Cash Flow (DCF) approach estimates what Roku might be worth today based on the cash it is expected to generate in the future. For Roku, the model uses latest twelve month free cash flow of about $528 million and assumes that cash flows continue growing from this base rather than shrinking. On these inputs, the DCF model points to an intrinsic value of about $229 per share, which is roughly 34.3% above the current share price. Roku’s valuation therefore leans heavily on expectations that its cash generation can keep expanding over time. Because the recent revenue beat in advertising and subscriptions highlights those cash generating parts of the business, the current discount suggests investors are still cautious about how durable that strength will be after the proposed Fox acquisition. Overall, the Discounted Cash Flow estimate implies Roku stock currently screens as undervalued relative to its projected cash flows. Our Discounted Cash Flow (DCF) analysis suggests Roku is undervalued by 34.3%. Track this in your watchlist or portfolio, or discover 50 more high quality undervalued stocks. Head to the Valuation section of our Company Report for more details on how we arrive at this Fair Value for Roku. The P/E ratio suits Roku because the company is now generating positive earnings that investors can compare with its share price. Roku currently trades on a P/E of about 110.0x, which is more than double the peer average of 51.1x and far above the Entertainment industry average of 20.5x. That indicates the market is putting a rich price on each dollar of reported earnings. The fair P/E ratio implied by the model is about 36.4x. This is far below the current multiple, and the large gap suggests the framework is heavily penalising Roku for its risk profile and earnings quality rather than pointing to a precise target level. Even allowing for optimistic expectations, the stock appears expensive relative to both its tailored fair multiple and simpler peer comparisons. On earnings, Roku stock appears clearly overvalued relative to both its modelled fair P/E and the wider Entertainment sector. See what the numbers say about this price — find out in our valuation breakdown. Simply Wall St Narratives pick up where the Roku valuation puzzle leaves off. They explain which paths for Roku's growth, margins and earnings would need to hold for the stock to be worth materially more or less than today's price, and they are available on Simply Wall St's Community page. Rather than relying on a single multiple or model, each one sets out the assumptions behind its fair value so you can compare them with actual results over time. The community views on Roku sit far apart, with one camp focused on long term platform upside and the other on deal and execution risk. Bull case: 19% undervalued Read the full Bull Case to see why Roku could be undervalued Bear case: 16% overvalued Read the full Bear Case to see why Roku could be overvalued Do you think there's more to the story for Roku? Head over to our Community to see what others are saying! The Discounted Cash Flow (DCF) view suggests Roku could be undervalued, while the market multiple view, with its very high P/E, flags the stock as overvalued compared with peers. That split exists because the intrinsic value estimate leans on future cash flow growth and timing, while the multiples reflect how much investors are already paying for that possibility. Broader valuation checks remain weak, so the single DCF signal does not settle the debate. The key question from here is whether Roku can deliver the cash flow growth and Fox integration execution that would justify both the DCF optimism and the premium earnings multiple. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include ROKU. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Roku ROKU shares have appreciated 2.12% since the company reported its second-quarter 2026 results on Aug. 06. The gain reflects continued strength in the company’s Platform business, driven by healthy growth in both Advertising and Subscriptions, alongside record profitability and free cash flow.Roku reported second-quarter 2026 earnings of $1.18 per share, which beat the Zacks Consensus Estimate of 61 cents by 93.4%. The company had reported earnings of 7 cents per share in the year-ago quarter.Revenues increased 22% year over year to $1.35 billion and beat the consensus mark by 4.23%.Roku shares have appreciated 38.3% year to date, outperforming the Zacks Consumer Discretionary sector’s 9.3% decline. Roku, Inc. price-consensus-eps-surprise-chart | Roku, Inc. Quote The company posted strong second-quarter 2026 results, supported by continued momentum across Advertising and Subscriptions, with Platform revenues increasing 25% year over year. Roku also continued rolling out its redesigned Home Screen, aimed at improving content discovery, personalization and household retention.Advertising performance was driven by deeper programmatic capabilities, with third-party demand-side platforms accounting for nearly three-fourths of in-stream video ad spend during the quarter. The Roku Experience continued to diversify its advertiser base, with non-Media and Entertainment brands representing more than one-third of advertising revenue. Political advertising exceeded the comparable quarter from the 2024 election cycle, with spending expected to build through the second half of 2026.Subscriptions benefited from the launches of FOX One and Peacock within Premium Subscriptions, which brought World Cup coverage to The Roku Channel. Roku also continued expanding its owned-and-operated SVOD service, Howdy, through its Mexico launch and standalone mobile app rollout.Devices performance reflected the continued ramp of the Hiro TV lineup at Target and strength at Amazon and Best Buy, with Roku-made TVs reaching approximately 5% of total U.S. TV unit sales volume. Expanded OEM partnerships with Hisense and TCL are expected to support unit growth in the second half of 2026. Platform revenues (90.1% of revenues) increased 25.2% year over year to $1.22 billion.Advertising revenues grew 24.8% year over year to $672.8 million, driven by continued programmatic demand strength and a mix shift toward higher-margin ad products.Subscriptions revenues grew 25.6% year over year to $548.2 million, driven by growth in Premium Subscriptions during a seasonally softer period for the category.Devices revenues (9.9% of revenues) declined 1.4% from the year-ago quarter's level to $133.7 million. Gross margin expanded 490 basis points (bps) from the year-ago quarter's level to 49.7%.Platform gross margin expanded 200 bps to 53%. Within the segment, Advertising gross margin increased 650 basis points to 62.4%, driven by a favorable mix toward higher-margin advertising products. Subscriptions gross margin contracted 360 basis points to 41.4%, primarily due to a mix shift toward Premium Subscriptions. Devices gross margin improved to 20.1%, aided by the IEEPA refund. Operating expenses increased 1% year over year to $527.5 million. Research and development expenses rose 1% to $179.7 million, while general and administrative expenses increased 25% to $124.6 million. Sales and marketing expenses declined 8% to $223.2 million. Adjusted EBITDA increased 225% year over year to a record $254.3 million, with the adjusted EBITDA margin expanding 1,170 basis points to 18.8%. Operating income increased to $146.2 million from an operating loss of $23.3 million in the year-ago quarter, while net income surged to $164.2 million from $10.5 million. As of June 30, 2026, cash and cash equivalents were $2 billion compared with $1.65 billion as of March 31, 2026. As of June 30, 2026, Roku had no long-term debt.Free cash flow on a trailing-twelve-month basis reached a record high of $704.1 million, up approximately 80% year over year. On June 15, 2026, Fox Corporation and Roku entered into a definitive agreement under which Fox will acquire Roku. In light of the pending transaction, the company did not provide financial guidance for the third quarter or 2026. Roku currently carries a Zacks Rank #4 (Sell).Some better-ranked stocks in the broader sector are American Public Education APEI, Newsmax NMAX and Target Hospitality TH. Each stock carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.American Public Education is set to report second-quarter 2026 results on Aug. 10. The Zacks Consensus Estimate for American Public Education’s second-quarter EPS is pegged at 36 cents, unchanged over the past 30 days and indicating an improvement of 1900% year over year.Newsmax is slated to report second-quarter 2026 results on Aug. 13. The Zacks Consensus Estimate for Newsmax’s second-quarter loss is pegged at 2 cents per share, unchanged over the past 30 days and indicating an improvement of 96.61% year over year.Target Hospitality is slated to report second-quarter 2026 results on Aug. 10. The Zacks Consensus Estimate for Target Hospitality’s second-quarter loss is pegged at 10 cents per share, unchanged over the past 30 days and indicating an improvement of 33.33% year over year. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Roku, Inc. (ROKU) : Free Stock Analysis Report American Public Education, Inc. (APEI) : Free Stock Analysis Report Target Hospitality Corp. (TH) : Free Stock Analysis Report Newsmax Inc. (NMAX) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

For the quarter ended June 2026, Roku (ROKU) reported revenue of $1.35 billion, up 21.9% over the same period last year. EPS came in at $1.18, compared to $0.07 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $1.3 billion, representing a surprise of +4.23%. The company delivered an EPS surprise of +93.44%, with the consensus EPS estimate being $0.61. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health. As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately. Here is how Roku performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Streaming Hours: 37.9 billion versus 39.72 billion estimated by three analysts on average. Net Revenue- Devices: $133.72 million versus the eight-analyst average estimate of $125.46 million. The reported number represents a year-over-year change of -1.4%. Net Revenue- Platform: $1.22 billion versus $1.17 billion estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +25.2% change. Revenue- Platform- Advertising: $672.82 million versus $653.35 million estimated by two analysts on average. Revenue- Platform- Subscription: $548.15 million compared to the $520.15 million average estimate based on two analysts. Gross Profit- Devices: $26.94 million versus $-24.54 million estimated by eight analysts on average. Gross Profit- Platform: $646.75 million versus $606.8 million estimated by eight analysts on average. Gross Profit- Platform- Advertising: $420.04 million compared to the $394.6 million average estimate based on two analysts. Gross Profit- Platform- Subscriptions: $226.71 million versus the two-analyst average estimate of $213.9 million. View all Key Company Metrics for Roku here>>> Shares of Roku have returned +5.5% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Roku, Inc. (ROKU) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Interested in Fox Corporation? Here are five stocks we like better. FOX reported record fiscal 2026 performance, with revenue up 5% to more than $17 billion and EBITDA up 8% to $3.9 billion. Fourth-quarter revenue rose 28% to $4.2 billion, driven largely by FIFA World Cup advertising, while adjusted EPS increased 41% to $1.79. Streaming and advertising momentum remained strong: Tubi revenue grew 35% to a record quarter, reaching 110 million monthly active users, while FOX One exceeded subscriber and retention expectations. Management also expects the upcoming midterm election cycle to generate record political advertising revenue. FOX repurchased $2 billion of shares and paid $243 million in dividends during fiscal 2026. The company said its planned Roku acquisition remains on track to close in the first half of calendar 2027, pending approvals. The Netflix-Lionsgate Rumor Exposed a Bigger Shift in Media M&A FOX (NASDAQ:FOX) reported record fiscal 2026 revenue and EBITDA, as the company benefited from FIFA Men’s World Cup advertising, growth at Tubi and FOX One, and continued strength in its news and sports businesses. For the fiscal year ended 2026, revenue increased 5% to more than $17 billion, while EBITDA rose 8% to a record $3.9 billion, Executive Chair and Chief Executive Officer Lachlan Murdoch said. Advertising revenue increased 7% despite comparisons with the prior year, which included the Super Bowl and a U.S. presidential election cycle. Distribution revenue rose 4% and content and other revenue increased 4%. → 3 Drone Stocks That Should Soar After the Summer Slump Fox Captures The Living Room With $22B Roku Buy Net income attributable to stockholders was $1.7 billion, or $3.84 per share, compared with $2.3 billion, or $4.91 per share, in fiscal 2025. Excluding non-core items, adjusted net income totaled $2.4 billion and adjusted earnings per share rose 13% to $5.42. Fourth-quarter revenue rose 28% to $4.2 billion, while EBITDA increased 27% to $1.2 billion. Advertising revenue climbed 78%, led by the company’s broadcast of the 2026 FIFA Men’s World Cup and accelerating growth at Tubi. Distribution revenue increased 5%. → Meta’s Earnings Drop Shows Wall Street Wants More Than Ad Growth Your Thanksgiving Playbook: 3 Stocks Set to Benefit From Football Fever Chief Financial Officer Steve Tomsic said adjusted net income for the quarter was $765 million, while adjusted EPS rose 41% to $1.79, from $1.27 a year earlier. Reported net income attributable to Fox stockholders was $691 million, or $1.61 per share, versus $717 million, or $1.57 per share, in the prior-year quarter. Expenses increased 28% during the quarter, reflecting higher sports programming rights, amortization and production costs related to the World Cup, as well as costs associated with the growth of FOX One. Cable network programming revenue rose 9%, while segment EBITDA declined 3%. Cable advertising revenue increased 22%, driven by the World Cup. Cable distribution revenue grew 7%, as affiliate-renewal pricing gains outpaced subscriber declines. Television segment revenue rose 45% and EBITDA grew 129%. Television advertising revenue increased 108%, supported by the World Cup, political advertising at television stations and Tubi growth. → Jersey Mike's Serves Fresh Gains After IPO Stumble Tomsic said net subscriber declines across third-party distributors remained consistent with the prior quarter at under 6.5%, before accounting for the positive contribution from FOX One. Tubi delivered its highest quarterly streaming and revenue results, with revenue up 35% and total viewing time up 17%. The service ended the fiscal year with 110 million monthly active users. Murdoch said Tubi’s World Cup hub reached more than 20 million viewers, while simulcasts of two early-round matches generated two of the platform’s highest-traffic days. Murdoch said World Cup-related Tubi revenue was meaningful but relatively small compared with the platform’s overall revenue growth. He also said approximately 70% of Tubi viewers are cordless households, including cord-cutters and cord-nevers, making the platform valuable to advertisers seeking incremental reach. FOX One, the company’s direct-to-consumer streaming offering, continued to exceed management’s expectations, according to Murdoch. The World Cup drove incremental subscriber additions and retention rates that surpassed the company’s expectations. He said FOX One has experienced minimal cannibalization of the traditional pay-TV business, with subscribers appearing to be incremental to the existing ecosystem. Tomsic said digital investments, including Tubi and FOX One, declined to less than $200 million in fiscal 2026 from just under $300 million in fiscal 2025. He said the company expects continued bottom-line improvement from its digital portfolio in fiscal 2027. Management said advertising momentum has continued into the first fiscal quarter. Murdoch said the company completed one of its strongest upfronts, with double-digit volume growth across sports, news and Tubi. He said the company saw strong demand from categories including entertainment, financial services, automotive, pharmaceuticals, dining, retail, technology and telecommunications. Fox expects the midterm election cycle to provide a further advertising tailwind, particularly for local stations and Tubi. Murdoch cited estimates from independent political advertising tracking firms projecting more than $11 billion in spending during the upcoming midterm election cycle. Fox generated more than $260 million in political revenue during the previous midterm cycle, and management expects the upcoming cycle to set a company record. The company will continue to benefit from World Cup-related revenue in the first quarter of fiscal 2027, although Tomsic said total tournament revenue was weighted more heavily toward fiscal 2026. Fiscal 2027 World Cup revenue is expected to be concentrated in the television segment because that segment carried most knockout-stage matches. Murdoch also said Fox will not amend its existing NFL agreement, which runs through the completion of the 2029 season. The company expects to discuss opt-out seasons and rights beyond that period closer to the 2030 season. Fox repurchased $2 billion of shares during fiscal 2026 and paid approximately $243 million in dividends. The company increased its semiannual dividend to $0.29 per share. Since its spin, Fox has returned $10.7 billion to shareholders, including $8.6 billion in share repurchases, representing about 36% of shares outstanding since the buyback program began in November 2019. The company ended the quarter with approximately $4.2 billion in cash and $6.6 billion in debt. Tomsic said Fox expects its share repurchase program to continue through the pending Roku transaction and afterward. Murdoch said the Roku acquisition remains on track to close in the first half of calendar 2027, subject to the approval process. Fox Corporation (NASDAQ:FOX) is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution. FOX’s core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "FOX Q4 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Roku (ROKU) came out with quarterly earnings of $1.18 per share, beating the Zacks Consensus Estimate of $0.61 per share. This compares to earnings of $0.07 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +93.44%. A quarter ago, it was expected that this video streaming company would post earnings of $0.34 per share when it actually produced earnings of $0.57, delivering a surprise of +67.65%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Roku, which belongs to the Zacks Broadcast Radio and Television industry, posted revenues of $1.35 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 4.23%. This compares to year-ago revenues of $1.11 billion. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Roku shares have added about 35.5% since the beginning of the year versus the S&P 500's gain of 12.8%. While Roku has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Roku was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.51 on $1.4 billion in revenues for the coming quarter and $2.41 on $5.55 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Broadcast Radio and Television is currently in the bottom 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, Gray Media (GTN), is yet to report results for the quarter ended June 2026. The results are expected to be released on August 7. This broadcast television company is expected to post quarterly loss of $0.08 per share in its upcoming report, which represents a year-over-year change of +81%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Gray Media's revenues are expected to be $788 million, up 2.1% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Roku, Inc. (ROKU) : Free Stock Analysis Report Gray Media Inc. (GTN) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research