Why Roku Stock Skyrocketed Today
Shares of Roku (NASDAQ: ROKU) have skyrocketed today, up by 46% as of 12:01 p.m. EST, after the company reported its first earnings release as a public company. The results crushed expectations.
Revenue in the third quarter soared 40% to $124.8 million, making short work of the consensus estimate of $110.5 million in sales. That translated into a non-GAAP net loss of $0.10 per share, while the Street was expecting Roku to lose $1.37 per share on an adjusted basis. The growth was driven by the platform business, which saw revenue skyrocket by 137% to $57.5 million.
Image source: Roku.
Source: Fool.com
Roku Stock
€61.31
-2.100%
Currently there is a rather positive sentiment for Roku with 33 Buy predictions and 6 Sell predictions.
With a target price of 93 € there is a hugely positive potential of 51.69% for Roku compared to the current price of 61.31 €.
