Roku Inc Class A

ROKU: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$15.00	Wzg	Nqddtlnzy

Weak Ad Revenue Will Decrease 2023 Revenue Growth for Roku; Maintain $65 FVE

Neil Macker

Feb 16, 2023

Business Strategy and Outlook

Roku is the leading streaming platform in the U.S. by hours watched with 87.4 billion hours of content streamed in 2022. The Roku platform provides its users with access to streaming services such as Netflix, YouTube, and Disney+. The company also offers its own ad-supported content channels that feature licensed third-party content. Its eponymous operating system is used on not only Roku-branded hardware but also in cobranded TVs and soundbars. Roku generates revenue from advertising, distribution fees, hardware sales, and subscription sales.

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