Roku’s big strategy change paid off

Roku stocks are soaring after the company nailed its first earnings report since going public earlier this fall.

While the set-top box maker is not quite profitable, it managed to post a smaller loss ($7.9 million) than Wall Street had expected ($12.7 million) thanks to especially strong revenue growth in ads and licensing its software. The company’s overall revenue grew to $125 million from $89 million in the same quarter last year.

The successful quarter follows a smooth initial public offering in September in which the decade-old company bucked an otherwise dismal market for tech public offerings. It also proved itself to be holding its own against big-name competitors in the space like Apple TV, Google Chromecast, and Amazon’s Fire TV. Read more…

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