Is Roku Stock a Buy?
Roku (NASDAQ: ROKU) has benefited enormously from the consumer migration to streaming this year. As total streaming hours continued to surge, new content partners have joined the Roku platform to reach millions of users.
Roku has continued to grow revenue and active accounts on its platform in 2020, even with the backdrop of a soft advertising market. Here are three reasons why the stock is a buy.
A recent Roku/Harris poll of more than 2,000 U.S. adults showed that 85% of Americans are now using some form of streaming service. This is an important finding because Roku relies on digital advertising to grow its platform revenue. In the second quarter, platform revenue comprised 69% of total revenue and grew 46% year over year. Also included in this segment is revenue from subscription content, transaction video on demand, and other services.
Source Fool.com
