Investors are bidding up shares of Roku (ROKU) today after an analyst at Susquehanna raised the stock and made some positive comments about Roku and the connected TV market.
Shyam Patil, CEO, wrote to stockholders about the company’s bright future in light of the developing streaming market, Roku’s competitive standing, and the generally optimistic trends in the connected TV industry.
Despite the short-term fluctuations, we still think the long-term connected TV opportunity is solid, and see Roku as a major winner from the secular shift of linear budgets. Patil assured shareholders that the company’s finest days were ahead.
Patil added that the majority of U.S. marketers will place a greater emphasis on connected TV ad spending in the future. Roku could benefit from this because advertising income contributes heavily to the network’s bottom line. The platform’s revenue grew by 20% in 2022, reaching $2.7 billion.
CWEBÂ has provided some information for this story.
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