Here's Why Roku Stock Kept Climbing Today
Shares of Roku (NASDAQ: ROKU) are up 88% this year, helped by a continued rise on Friday. The company reported earnings for the third quarter, and some metrics are stunning. For example, Roku users streamed 14.8 billion hours of video content in the quarter -- or over 1.6 million years' worth, if that's easier to understand. That outsized usage logically translated to robust financial results, sending Roku stock up 12% as of 11:30 a.m. EDT today.
In the third quarter, total revenue was up 73% year over year to $452 million. This includes both the player segment (hardware devices) and platform segment (operating system, payment processing, and more). The company had refrained from giving formal guidance for the quarter, since there was a lot of uncertainty surrounding advertising revenue. But ad spend was anything but weak: Roku's monetized video-ad impressions surged nearly 90% year over year.
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Source Fool.com
