Roku: We've Seen a "Solid Rebound in Video Ads"
2023 has been a year of recovery for streaming TV platform company (NASDAQ: ROKU). That trend continued in the third quarter, the company revealed in its earnings report on Thursday. After posting 1% year-over-year revenue growth in Q1, growth accelerated to 11% growth in Q2 and then to 20% in Q3.
"We had a solid rebound in video ads in Q3 and we expect the YoY growth rate of video ads in Q4 to be similar," Roku told investors in its third-quarter shareholder letter.
Roku's upbeat view for Q4 is encouraging news after Meta Platforms spooked investors late last month as it downplayed its own acceleration with warnings about an uncertain macroeconomic environment's potentially negative impact on ad spend going forward.
Source Fool.com
Roku Stock
€54.39
2.280%
Currently there is a rather positive sentiment for Roku with 29 Buy predictions and 7 Sell predictions.
With a target price of 93 € there is a hugely positive potential of 70.99% for Roku compared to the current price of 54.39 €.
