Business Corpus: Roku Stock Surges To Buy Point On Second-Quarter EarningsRoku stock soared on Thursday after the streaming video company delivered a beat-and-raise second-quarter report fueled by advertising growth on its platform. The post Roku Stock Surges To Buy Point On Second-Quarter Earnings appeared first on Investor's Business Daily.

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Roku stock soared on Thursday after the streaming video company delivered a beat-and-raise report for the second quarter fueled by advertising growth on its platform.

Roku (ROKU) shares jumped 18%, near 55.80, in morning trading on the stock market today. The stock leaped above a 51.92 handle buy point in a deep cup base. The company went public last September at 14 and hit an all-time high of 58.80 in December.

Late Wednesday, the Los Gatos, Calif.-based company beat Wall Street's estimates for the second quarter and guided higher for revenue and adjusted profit for the full year.

Breaking Even

The company broke even on sales of $156.8 million in the June quarter. Analysts expected it to lose 15 cents a share on sales of $141.5 million.

Active accounts rose 46% to 22 million users in the second quarter from the same period last year. It added 1.2 million new users from the first quarter.

Average revenue per user climbed 48% year over year to $16.60 in the June quarter. It was $15.07 in the March quarter.

The post Roku Stock Surges To Buy Point On Second-Quarter Earnings appeared first on Investor's Business Daily.