Why Roku Stock Is Soaring Today
Did you catch Roku's earnings surprise? Here's why the media-streaming veteran's stock skyrocketed on Friday.
Shares of Roku (NASDAQ: ROKU) soared on Friday following a strong earnings report. The media-streaming technology expert's stock rose as much as 20.9% in the morning session before settling back at a still-impressive 14% gain by 1:35 p.m. ET.
Your average Wall Street analyst expected Roku's fourth quarter to show a net loss of $0.42 per share on approximately $1.15 billion in sales. The reported loss was a much smaller $0.24 per share, and revenues came in hot at $1.20 billion.
Roku's customer metrics were also robust. In the fourth quarter, the company added 4.3 million net new streaming households, a 5% sequential increase. Streaming hours rose by 10%, and Average revenue per user (ARPU) ticked 4% higher than the year-ago period.
