Roku’s stock price jumped higher on Thursday afternoon, after the streaming device maker and content aggregator posted an unexpected Q3 profit and sales that ran past Wall Street’s expectations.For Q3, Roku reported revenue increased 73% year-over-year to $452 million, compared to analyst projections of $367.5 million.
While Roku is best known for its streaming devices, advertising revenue continued to account for most of its sales, with $319.2 million coming from on-platform advertising.The Los Gatos, California-based company’s gross profit also spiked 81% year-over-year to $215 million, translating to earnings of 9 cents per share — a surprise considering analysts expected Roku to lose 42 cents per share.Roku added 2.9 million active.
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