The streaming company Roku had seen a major surge in one of the most recent trading sessions back on Friday, February 22nd, when the stock jumped by over 20%, presently showcasing rises on Saturday, February 23rd, as the stock is surging by 25% in the last trading session.
The stock opened by 7% higher on Friday morning, gradually reaching 20% of gains in the course of 24 hours after the company reported that they had more than expected in revenues.
Additionally, Roku stocks jumped by 105% in the course of the last two months while the stock keeps climbing.
Roku Streaming Platform Recorded More Than Expected in Revenue
Roku reported that the company had made 262.1 million dollars for the December quarter, generating around 188 million dollars back in 2017, one year earlier.
The net income for the fourth quarter as reported by the company was set at 6.8 million dollars, adding 5 cents to the value of each share, and with the steady growth the company reported brought over 151 million dollars to the company in revenue.
One of the biggest competitors for Roku streaming platform is represented in Netflix, competing within the same industry of online streaming. Even though Netflix is a well-known streaming platform, and needless to say, one of the most popular in the market, investors seem to be positive about Roku platform and the progress the company had made by far.
The company predicted around 36% of gains for year to year growth, stating that investors should expect to see 1 billion dollars in revenue for the fiscal year 2019.
Steven Louden, the company’s CFO, told the press in one of his recent interviews that one of the biggest drivers of revenue to the company is advertising on the platform, hoping to see more revenue thanks to the ad model the company has on Roku Channel.