Streaming specialist (NASDAQ: ROKU) did not start the year on a strong note. Things have only worsened since early January: The company's shares dropped following its fourth-quarter earnings report. As things stand, Roku's shares are down by 29% year to date and are trading for just under $65 apiece. However, there are good reasons to remain bullish on Roku. Find out why the company's stock is still worth buying.

At first glance, Roku's fourth-quarter results weren't bad at all. The company's revenue increased by 14% year over year to $984.4 million. Active accounts hit 80 million, 14% higher than the year-ago period, while Roku's viewing hours came in at 29.1 billion, a 21% year-over-year increase. Viewers spent over 100 billion hours streaming on Roku last year.

However, it wasn't all sunshine and rainbows for the company. On the bottom line, Roku delivered a net loss per share of $0.55, although that was also an improvement over the net loss per share of $1.70 recorded in the year-ago period. Still, investors have been less forgiving of unprofitable growth-oriented companies in the current economic environment marked by higher interest rates.

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Source Fool.com