Roku Stocks Jump 8% After Q2 Growth

Shares in Roku soared as much as 8%, after the streaming box manufacturer reported better-than-expected Q2 results.

In 2019 alone, Roku shares have skyrocketed a whopping 231%.

Q2 earnings came in at a loss of 8 cents per share, which beat estimates by 13 cents.

Sales came in at $250.1 million, which beat estimates by $25.9 million.

That figure is 59% over the same quarter in 2018.

The company also issued strong third-quarter sales guidance of $250 million to $255 million, versus an estimate of $245.4 million.

According to Roku, the company continues to see growth due to the sector’s acceleration towards video streaming and growth in video content available to the general public.

Roku says that continued strong execution against their strategic plan led to a great quarter.

Whilst the company’s streaming boxes are not officially available to buy in Australia, its technology is being used by local brands such as Telstra.

“We achieved two significant milestones – active accounts passed 30 million and ARPU surpassed $20,” Roku said in a statement.

“Our business momentum and ongoing investment in areas of competitive differentiation continue to drive growth and attract users, advertisers and content publishers.”

“This resulted in a robust increase in Active Accounts, healthy growth of Streaming Hours and continued progress in monetisation.”

Roku stock closed the trading day at $100.97 – up 2.5%, and in after-hours trading, it was up by as much as 9% to around $110 a share, close to its all-time high of $113.44 since going public in 2017.