Roku shares jumped in after-hours trading Wednesday, adding to their already surging value, after the streaming specialist reported another stellar quarter of growth
In its fiscal second quarter, ending June 30, Roku said it lost eight cents a share on a diluted basis, compared with a break-even quarter in 2018. But the result far outpaced Wall Street analysts’ expectation for a loss of 22 cents.
Roku stock closed the regular trading day Wednesday at $100.97, up 2.5%. In after-hours trading, it was up as much as 9% to around $110 a share, near its all-time high of $113.44. Roku went public in September 2017.The number of streaming accounts reached 30.5 million, Roku said, up 39% from the same period a year ago. Total streaming hours soared 72% to 9.4 billion, while average revenue per user, a key metric, increased 27% to $21.06.
In their letter to shareholders, founder-CEO Anthony Wood and CFO Steve Louden said surpassing 30 million accounts and $20 in ARPU were “significant milestones” for the tech firm.
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