Roku, Inc. (ROKU) shares are rising on Friday morning trade as the company reported a swing to profit in the first quarter on higher revenue.
Currently, shares are at $328.79, up 15.42 percent from the previous close of $284.18. For the 52-week period, the shares have traded in a range of $100.19-$486.72 on average volume of 4,176,427.
The streaming provider reported a first-quarter net profit of $76.29 million or $0.54 per share compared to net loss of $54.61 million or $0.45 per share last year.
Total revenue for the quarter increased to $574.18 million from $320.77 million last year.
Looking ahead to the second quarter, the company expects net profit in a range of $10-$20 on revenue in a range of $610-$620 million. On average, 24 analysts polled by Thomson Reuters expected the company to report loss of $0.23 on revenue $555.64 million.
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