Roku's Stock Tumbles as Its Battle With Fox Spills Over Into Super Bowl Weekend
There's no denying that Roku (NASDAQ: ROKU) was one of the best-performing stocks of 2019. The streaming pioneer's stock price rocketed 337% last year, driven by soaring growth. Revenue grew 50% year over year in the most recent quarter, but the company's platform is growing even faster, up 79%, and now accounts for 69% of Roku's total revenue. Streaming hours also saw robust increases, up 68% year over year to 10.3 billion hours, while active users' accounts grew 36% to 32.3 million.
Roku's stock took a nosedive on Friday, however, falling about 7% to its lowest point since early November, as the company let customers know that channels from Fox Corp. (NASDAQ: FOX) -- which will be broadcasting Super Bowl LIV this weekend -- will not be available on its platform beginning Friday, Jan. 31.
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Source Fool.com
