Roku’s stock price jumped higher on Thursday afternoon after the streaming device maker and content aggregator reported an unexpected Q3 profit and sales that ran well above Wall Street’s expectations.
For the third quarter, Roku reported that 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.
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