(NASDAQ: ROKU) recently reported its first-quarter 2023 quarterly results. Unfortunately, investors were disappointed that its outlook for the second quarter of 2023 projects only 1% year-over-year revenue growth after producing similar 1% revenue growth for the first quarter. This anemic revenue growth suggests that a recovery is not imminent, and many investors remain lukewarm toward the company. Consequently, the stock price sits 88% below its July 21, 2021 all-time high of $480. Yet, there is still hope for bulls.

Despite the negativity surrounding the company, the long-term fundamentals of Roku are still attractive. Let's explore why long-term investors may consider adding this stock to their buy list.

Roku primarily generates revenue by charging service fees to content publishers and providing advertising services to publishers and advertisers -- an excellent business in a growing economy but a terrible one when the economy is slowing.

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Source Fool.com