Here's Why Roku Stock Surged Today
Roku (NASDAQ: ROKU) climbed 11.6% Friday after the streaming media company delivered strong first-quarter results.
Roku's revenue soared 79% year over year to $574.2 million, fueled by a 101% surge in platform revenue, to $466.5 million. The gains were driven by a 35% jump in active accounts, to 53.6 million, and a 32% rise in average revenue per user (ARPU), to $32.14.
Roku's advertising platform is becoming more attractive to marketers as people shift their viewing habits away from traditional TV and toward streaming services. Ad dollars follow eyeballs, and companies are increasingly willing to pay up to advertise on Roku's system.
Source Fool.com