Roku Stock Shoots 10% Higher Following Surprise Q2 Profits

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Roku Inc. (NASDAQ: ROKU)

After the market closed on Wednesday, Roku Inc. announced second quarter results that surprised investors and sent shares jumping over 10% in the post market.

The company announced revenues of $158.6 million with profit of $526,000 after analysts were expecting $141.1 million in revenues and a loss per share of 15 cents. This is great news for investors as the company looks to be growing faster than expected.

“Our goal is to keep expanding reach” said Roku Chief Executive Anthony Wood on the call with investors when asked about the channel’s ultimate objectives. “So with what we announced for example, our web launch today, we plan to expand to more geographic regions. We recently announced that we’re entering Canada and we plan to keep adding more content categories, particularly long-form content.”

As of the closing print on Wednesday at $47.25, shares of $ROKU were down just over 10% on the year, but with current prices in the premarket at $52.29 that will bring it to being down just under a percent for the year.