Stock Track | Roku Stock Surges as Growth Stabilizes and Prospects Brighten

Stock Track2024-11-05

Roku Inc's stock soared 6.18% on Friday, as investors grew increasingly optimistic about the streaming platform's ability to sustain its growth momentum and potentially revive the stock's past glory days.

After a meteoric rise from its IPO in 2017 to its peak in 2021, when it minted many millionaires, Roku's stock tumbled nearly 90% from its all-time highs as the company grappled with slowing growth, intense competition, and macroeconomic headwinds. However, recent financial results and projections suggest that Roku's business may finally be stabilizing, fueling renewed investor confidence.

In the first nine months of 2024, Roku's active accounts increased by 13% year-over-year to 85.5 million, while total streaming hours grew by 21% to 92.9 billion. Although its average revenue per user (ARPU) remained flat, the company's total revenue rose 16% year-over-year, driven by growth in both its platform and device segments. Analysts now expect Roku's revenue to increase by a compound annual growth rate (CAGR) of 14% from 2023 to 2026.

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