Roku, Inc. (NASDAQ:ROKU) shares are trading higher on Tuesday, following a milestone achievement for the streaming giant.
What Happened: The San Jose, California-based company has surpassed 90 million streaming households in the first week of January.
The company's devices are now in nearly half of all U.S. broadband households, making them one of the top-selling TV operating systems in the U.S. for over five years.
Roku founder and CEO Anthony Wood attributed the brand's success to simplifying and enhancing the streaming experience for its customers.
Also Read: What's Going On With Hyperscale Stock Today?
Why It Matters: This milestone reflects Roku's ongoing success 15 years after launching its first streaming device.
Roku's innovations include features like Backdrops, which turns any Roku TV into a piece of art, and Roku Smart Picture, which optimizes picture quality automatically.
The Roku platform also offers a vast library of content, including over 500 free live channels, premium content, and thousands of free on-demand options.
The Roku Channel itself has seen 80% year-over-year growth, further demonstrating the platform's success in capturing consumer attention.
Price Action: Roku shares are up 5.25% to $84.10 premarket at last check Tuesday.
According to Benzinga Pro, Roku stock has lost over 14% in the past year. Investors can gain exposure to the stock via ARK Innovation ETF (NYSE:ARKK) and ARK Next Generation Internet ETF (NYSE:ARKW).
- Jensen Huang Unveils Monster GPUs: Nvidia's RTX 5000 Series Starting At $549
Image: Shutterstock
