5 Reasons Roku Is Moving Higher on Friday

We're in the home stretch for earnings season, and a strong report can send a stock higher. Shares of Roku (NASDAQ: ROKU) initially moved sharply skyward after the company posted encouraging financial results on Thursday afternoon following the market's closing bell.

Roku was already turning heads before this week's blowout fourth-quarter performance. The shares had nearly doubled since bottoming out this past summer. The strong results are kicking things up a notch higher, so let's take a closer look at some of the reasons the Roku story is getting even better.

The top line is always a good place to start. Net revenue for the final three months of 2024 topped $1.2 billion, just ahead of both the $1.15 billion analysts were targeting and the $1.14 billion Roku was modeling back in October. The record revenue is a 22% increase, the strongest year-over-year percentage jump for Roku since early 2022. Platform revenue topped $1 billion for the first time.

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