Everyone Is Talking About This Stock. Is It a Good Long-Term Option?
The streaming wars have never been more intense, characterized by endless viewing options on the market, all vying for consumer attention. One company in particular, Roku (NASDAQ: ROKU), might be an attractive investment because of its agnostic stance on its platform's content services. In other words, the thinking is that as more people cut the cable cord and move to streaming, Roku should benefit.
The business has been in the news lately, prompting investors to reassess whether this streaming stock makes for a good long-term option. Let's take a closer look at what's going on with Roku.
At the Consumer Electronics Show in Las Vegas this past week, Roku CEO Anthony Wood mentioned that the company ended 2022 with 70 million active accounts, up 16% from 60 million at the end of 2021. What's more, he pointed out that the total number of hours streamed on Roku's platform was a whopping 23.9 billion in the fourth quarter, compared to 19.5 billion hours in Q4 2021. These growth trends are a breath of fresh air in what is becoming a difficult macroeconomic environment.
Source Fool.com
