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Earnings Results: Roku stock gains on upbeat forecast as ad revenue surges

Roku Inc. shares rose in after-hours trading Thursday after the streaming company reported better-than-expected revenue and delivered an upbeat forecast about the year ahead.

The company posted revenue of $275.7 million for the December quarter, up from $188.3 million a year earlier and ahead of the $262.1 million FactSet consensus expectation. The company saw strong growth in its platform business, which brought in $151.4 million in revenue. Roku’s ROKU, -4.03% platform segment consists of advertising, licensing and other non-hardware revenue sources.

Roku reported net income of $6.8 million for the fourth quarter, or 5 cent a share.

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