2024-02-20 06:00:00 ET
Roku (NASDAQ: ROKU) reported revenue growth of 14% in the fourth quarter of 2023, which was better than Wall Street's consensus analyst estimate. But management also talked about a challenging industry environment, which explains why shares took a huge hit following the earnings announcement.
Although the streaming stock has soared 77% since the start of 2023, it remains 85% below its all-time high. However, investors who see this as a bargain opportunity should know three things about the business first.
Investors are undoubtedly familiar with the top streaming services out there, like Netflix , Walt Disney , and Amazon Prime Video, to name just a few. These companies spend billions of dollars to produce and license content, which they directly serve to viewers in a subscription format.
For further details see:
3 Must-Know Facts Before You Buy Roku Stock