New York, Feb 13, 2026, 14:22 EST — Regular session
- Roku shares kept climbing, building on their post-earnings surge after the company raised its 2026 targets.
- The platform business draws most of the attention now, with ads and distribution fees making up the bulk of its revenue.
- Focus now turns to how Q1 execution shapes up, alongside ad demand tracking into the end of the Winter Olympics.
Roku jumped 9.3% to $90.67 on Friday afternoon, clawing back ground after its quarterly update and 2026 forecast. The stock kicked off the session at $96.01, later peaking at $97.49, then slipped.
Roku holds a crucial spot in connected-TV advertising. When marketers shift their budgets up or down, this market can pivot fast—and that puts Roku right in the thick of it.
Roku’s reach stretches across the streaming stack—it’s in hardware, owns a sizable ad platform, and pockets a share anytime users subscribe to streaming services via its interface. Because of that, the company’s guidance often serves as a proxy for the broader streaming sector’s health.
Roku, in a late Thursday 8-K, posted fourth-quarter net revenue at $1.39 billion and net income of $80.5 million. Looking ahead, the company projects 2026 net revenue to reach $5.5 billion, with adjusted EBITDA at $635 million for that year and $130 million for Q1. Roku also disclosed a $150 million stock buyback as part of its $400 million repurchase plan. (SEC)
Roku now expects platform revenue—covering both ads and content deals—to climb 18% and hit $4.89 billion by 2026, outpacing the $4.66 billion consensus from analysts polled by LSEG. PP Foresight’s Paolo Pescatore sees the company’s platform strategy as “turning scale into a repeatable monetisation engine.” CEO Anthony Wood, speaking to analysts, said Roku is “on track to surpass 100 million streaming households this year.” (Reuters)
During the earnings call, CEO Wood pointed to what he described as Roku’s “biggest quarter ever for premium subscription net adds”—and said the company aims to bring in more “tier-one” partners while pushing out new subscription bundles. CFO Dan Jedda noted Q1 is typically light on political ad spend, but suggested election-driven advertising could pick up in the back half. (Roku Images)
Analysts wasted little time making moves. Seaport Research Partners bumped its Roku target up to $130, pointing to demand for advertising and live-sports streaming, according to Barron’s. (Barron’s)
Still, there’s no shortage of old headaches. Roku’s fortunes depend on ad revenue, and that can vanish in a hurry if economic conditions deteriorate or major advertisers retreat. The streaming ad battle hasn’t eased up either, as bigger platforms keep rolling out their own ad-supported options and fighting for the same eyeballs.
Now, attention turns to Roku’s first-quarter numbers as the Winter Olympics move toward their close. The Milano Cortina Games wrap up on Feb. 22 — a key date for watching streaming activity and advertising appetite. (Olympics)
