Roku’s shares surged by 25% today, marking their largest daily percentage gain in four years. The reason behind this impressive jump is the company’s optimistic quarterly revenue forecast. Interestingly, Roku’s stock has already doubled in value this year, indicating its strong performance in the market.
The company recently reported its financial results for the quarter ending on June 30. During this period, Roku achieved remarkable growth, with revenue increasing by a staggering 81% to reach $723.9 million. Moreover, their earnings per share surpassed expectations by an impressive 10 cents, reaching 29 cents.
This remarkable success can be attributed to the booming streaming market, where Roku holds a dominant position as the leading maker of streaming devices. Additionally, the company’s advertising business is also flourishing, as evidenced by a substantial 141% rise in advertising revenue in the most recent quarter.
Considering these exceptional achievements and growth prospects, analysts are bullish on Roku’s future.
