Roku shares roared to life after hours after the streaming specialist reported better-than-expected results for the fourth quarter.
The company reported total revenue of $867.1 million in the period ending December 31, which was flat with the year-earlier period but well ahead of Wall Street analysts’ forecast of $801.7 million.
Shares in Roku, which have taken a beating over the past year-plus, rose 12% during the regular trading day, finishing at $63.49 and jumped another 12% after the bell on the strong print.
The stock had been among the worst-performing of 2022, plunging 80% on fears about softening advertising and overspending on original content.
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