Roku's Stellar Second Quarter Is Worth a Closer Look
Judging by Roku (NASDAQ: ROKU) stock's price action since the streaming platform company released its second-quarter earnings report earlier this month, you would think Roku is facing major challenges during the pandemic. Shares are down 11% since the quarterly update was posted. But investors should arguably be impressed by Roku's quarterly results, which demonstrated strong growth during a period when marketer ad budgets contracted significantly.
Highlighting its impressive momentum during Q2, Roku's second-quarter revenue soared 42% year over year. Further, both the company's top and bottom lines for the period were significantly higher than analysts were anticipating. Yet management's warning that ad spend on its platform wasn't likely to fully recover to pre-pandemic levels until well into next year seemed to overshadow this strong performance.
A closer look at Roku's second-quarter results shows that there's plenty for shareholders of this growth stock to be excited about -- even during these uncertain times.
Source Fool.com
