Roku stock gained an impressive 28% yesterday
Roku stock (ROKU) jumped over 28% on May 9 to close at $83.11. Roku stock is currently trading 216% above its 52-week low of $26.30 and just below its 52-week high of $83.17. The stock has gained close to 31% this month and is up a whopping 171% in 2019. So what drove Roku’s stock to record levels? Why is the stock trading close to all-time highs?
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Impressive first-quarter results
Roku announced its first-quarter of 2019 results on May 8 and reported sales of $206.7 million, a rise of 51% YoY. It reported adjusted EPS of -$0.09 in the first quarter.
Wall Street expected Roku to post sales of $192 million with EPS of -$0.25 in the first quarter. Thus, Roku beat revenue estimates by 7.6% and earnings by 64% in Q1 2019.
Roku managed to beat earnings estimates in the last four quarters as well. Roku posted EPS of $0.05 in the fourth quarter, 67% higher than analysts’ estimate of $0.03. The company posted EPS of -$0.09 in the third quarter, 25% higher than the estimate of -$0.12.
Roku exceeded its earnings estimate of -$0.15 in the second quarter with reported earnings of $0.0. The company also beat analysts’ consensus earnings estimate of -$0.15 by 53% with EPS of -$0.07 in the first quarter of 2018.