Shares of Roku shot up 21% in morning trading Thursday after the streamer and device maker posted 20% growth in third-quarter revenue and offered upbeat guidance for the remainder of the year.
Roku added $12.72, to $72.42. The stock ended Wednesday trading at $59.70, up more than 20% since the start of the year.
After the market closed, the San Jose, California-based company said it brought in $912 million in revenue for the quarter ended Sept. 30., topping analyst estimates for revenue of $857.4 million, according to Zacks Investment Service.
The results, fueled by growth in content distribution and sales of the TVs it introduced in the spring, nevertheless resulted in a net loss of $330 million, or $2.33