Roku's stock has more than doubled since its first earnings report — making its founder a billionaire (ROKU)

pulse

November 13, 2017 8:01 PM

The stock skyrocketed after the streaming hardware and platform company blew past Wall Street's earnings expectations.

Roku, a video streaming platform and hardware company, blew past Wall Street estimates in its first earnings report as a public company on Thursday.
The stock has more than doubled since.
Founder Anthony Wood, who owns 27.3% of Roku, is now a billionaire.

Shares of Roku have skyrocketed 125% in the three days after the streaming-video platform company released its first earnings report as a public company.

Anthony Wood, the 51-year-old founder who now serves as Netflix’s VP of Internet TV, still owns 27.3% of the company, according to public filings. The surge in Roku’s stock price has grown Wood's net worth by $652 million to $1.07 billion, according to Bloomberg.

In its first earnings report as a publicly-traded company, Roku crushed estimates, reporting an adjusted loss of $0.10 on revenues of $124.78 million. Wall Street was expecting a loss of $0.40 per share on revenue of $118.75 million.

Shares rose 13% on Friday, and another 32% into Monday afternoon after the company announced discounted streaming sticks ahead of the holiday season.

Shares are trading 67% above their September opening price.

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