Roku (NASDAQ: ROKU) reported third-quarter 2020 financial results after the regular trading hours on Thursday. The online streaming firm reported a 73% growth in Q3 revenue to $452 million, surpassing the Wall Street consensus. The company reported a net income of $0.09 per share, even as analysts expected a loss.
ROKU shares shot up 9.5% immediately following the announcement. The stock has gained 64% since the beginning of this year.
The company said in a statement, “During the quarter, we achieved a 43% year-over-year active account growth rate and doubled the active account reach of The Roku Channel. Despite continued uncertainties caused by the pandemic, we are pleased with the trajectory of our business and believe that Roku remains well positioned to help shape the future of television – including TV advertising – around the world.”
On the heels of lawmakers moving closer to passing the stimulus bill, inflations concerns gripped the market after Federal Reserve chief Jerome Powell at a meeting said the reopening would
Though the retail boom triggered by the pandemic was estimated to be short-lived initially, the shopping spree continued as customers stocked up on essential items, concerned about the persistent market
Shares of Gap Inc. (NYSE: GPS) were up 5.8% in afternoon hours on Friday. The stock has gained 103% over the past 12 months. Gap reported mixed results for the