Roku stock hits record high amid massive user growth

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Roku CEO: No plans to produce content

Roku is holding its floor within the battle for streaming viewership.

The gadget maker introduced after the closing bell on Wednesday that its second quarter income grew 57% over the earlier 12 months to $156.eight million. That is the quickest quarterly development the corporate has seen since 2013.

The corporate’s inventory rose 18% on Thursday morning to a report excessive of over $57.

Roku additionally added an unbelievable 22 million lively accounts in its newest quarter. Person streaming hours elevated considerably too: Up 57% to five.5. billion hours from April to June.

Associated: Samsung’s subsequent transfer: A $22 billion guess on new tech

The struggle for viewers pits Roku in opposition to different streaming units like Amazon’s (AMZN) Hearth Stick, Apple (AAPL) TV, in addition to sensible TVs. However in keeping with market analysis agency Park Associates, Roku stays the preferred streaming gadget in the US.

Roku (ROKU), which was based in 2002, went public in September 2017.

CNNMoney (New York) First revealed August 9, 2018: 11:26 AM ET

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