CLOSINGS: View Closings

Roku stock hits record high amid massive user growth

Roku is holding its ground in the battle for streaming viewership.The device maker announced after th...

Posted: Aug 9, 2018 4:10 PM
Updated: Aug 9, 2018 4:10 PM

Roku is holding its ground in the battle for streaming viewership.

The device maker announced after the closing bell on Wednesday that its second quarter revenue grew 57% over the previous year to $156.8 million. That's the fastest quarterly growth the company has seen since 2013.

The company's stock rose 18% on Thursday morning to a record high of over $57.

Roku also added an incredible 22 million active accounts in its latest quarter. User streaming hours increased significantly too: Up 57% to 5.5. billion hours from April to June.

Related: Samsung's next move: A $22 billion bet on new tech

The fight for viewers pits Roku against other streaming devices like Amazon's Fire Stick, Apple TV, as well as smart TVs. But according to market research firm Park Associates, Roku remains the most popular streaming device in the United States.

Roku, which was founded in 2002, went public in September 2017.

St. Joseph
59° wxIcon
Hi: 92° Lo: 66°
Feels Like: 59°
Partly Cloudy
54° wxIcon
Hi: 93° Lo: 66°
Feels Like: 54°
59° wxIcon
Hi: 93° Lo: 65°
Feels Like: 59°
Partly Cloudy
62° wxIcon
Hi: 91° Lo: 65°
Feels Like: 62°
65° wxIcon
Hi: 94° Lo: 64°
Feels Like: 65°
Clear and calm conditions will continue into this evening with lows falling into the upper 50s and lower 60s. Tuesday will be another warm and sunny day with highs making a run towards the 90s. A few isolated showers will be possible Wednesday afternoon and evening, however most of the day will be dry. Temperatures will start to cool down on Wednesday with highs in the mid 80s. 70s look to return on Thursday and last through the weekend. Rain chances also look to linger through the work week into the weekend.
KQTV Radar
KQTV Temperatures
KQTV Alerts

Community Events