Roku (ROKU) is rallying today after releasing first-quarter 2026 earnings late Thursday, April 30, 2026, and pairing the results with a higher outlook for its higher-margin Platform business. The company lifted its full-year 2026 platform revenue forecast to about $5.0 billion, implying roughly 21% growth versus 2025, which helped drive a sharp positive reaction following the print and is carrying into Friday’s session.

In Q1 2026 (ended March 31, 2026), Roku said Platform revenue increased 28% year over year to about $1.13 billion, outpacing expectations cited in market coverage. Roku also reported profitability improvements, including net income of about $86 million and adjusted EBITDA of about $148 million, reinforcing the narrative that the company can grow platform revenue while expanding margins.

Roku pointed to strength in advertising and subscriptions and began breaking those areas out separately to provide more visibility into platform performance. At the same time, Roku cautioned that tightening memory chip supply could push up memory costs and weigh on device margins later in 2026, even as the company emphasized platform growth as the primary driver of earnings power.

Roku also disclosed additional buybacks, repurchasing about $100 million of shares in Q1 and bringing total repurchases to roughly $250 million since Q3 under its $400 million authorization. While the earnings beat and higher 2026 platform outlook appear to be the main catalyst for today’s move, the continued pace of repurchases may be helping support sentiment around free-cash-flow per share.