Why Roku Stock Soared This Week
Roku (NASDAQ: ROKU) investors received some good news this week as their stock soared 29% through Thursday trading. That's as compared to a flat result for the broader market, according to data provided by S&P Global Market Intelligence. The streaming video specialist is now up a whopping 73% so far in 2023, although shares are still down significantly over the past full year.
This week's spike came as Wall Street celebrated Roku's brightening outlook.
Roku said in a Wednesday earnings announcement that revenue from its core business grew 5% in the Q4 selling period that ended in late December. While that result marked a slowdown from the prior quarter's 15% boost, it was much better than expected. Roku's management team had predicted a decline back in early November. Instead of sales landing at around $800 million, Q4 revenue was $865 million.
Source Fool.com
