Roku Inc. hasn’t been public for very long, and yet, the independent streaming company continues to prove skeptics wrong.
On Monday, shares of Roku Inc. (NASDAQ:$ROKU) surged. At this time of writing, the stock is up 34%.
What Really Caused Roku Inc.’s Stock to Soar?
The stock’s rise probably follows investors optimism in the wake up of the company’s better-than-forecasted Q3 earnings report last week, but there is also the possibility that the two press releases from Roku Inc. on Monday probably helped a little too:
1. Roku disclosed that Funai Electric will commence shipping Roku OS-enabled smart TVs under the company’s Philips brand.
2. Due to Roku’s partnership with AT&T’s DIRECTV, the Los Gatos, California-based company announced that it will have a Black Friday deal, which will include a one-month free subscription of AT&T’s DIRECTV Now with the purchase of any Roku device.
What Does Roku Inc.’s Future Entail?
Both announcements clearly reflect that Roku’s management is primarily focused on gettings its platform into the hands of as many customers as possible.
As of right now, it seems the company just wants to make as much money as possible off of their platform. With deep discounts and partnerships with new TV manufacturers, it is very likely Roku’s platform growth story is only beginning.
Featured Image: twitter
