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3yrs ago Hedge Fund dealbreaker Views: 420

Stream it like you mean it

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IF YOU CAN STREAM IT, YOU CAN DO IT 

Roku’s stock was on fire yesterday as the streaming technology company reported positive user growth and a 49% jump in hours streamed for Q1.

"Pshh, those are rookie numbers" - every "adult entertainment" site

The stock price gained 4% on the day, and another 11% after hours. Not unlike Roku’s usage on a typical work day.

Let’s dive in

In case you were never exactly sure what Roku does, here ya go: it’s the OG streaming platform and operating system (think: Google Chrome for your TV) that allows you to watch apps like Netflix, Hulu, and even cable programs right on your TV. Yes, even dumb ones.

Despite the recent boom in streaming services, Roku’s stock had cratered from a high of $170 in September to just above $63 in Mid-march. Who knew a pandemic could save a company?

Roku hasn’t reported Q1 numbers yet but it estimates that users streamed for 13.2B hours during the first three months of the year, an increase of 49% from the previous quarter, which included the holiday season (another instance where you're stuck inside with people you dislike). The company also noted that 3M new viewers joined the platform as of March 31, bringing total active users up to 39.8M.

As is the trend for pretty much every company these days, Roku did not provide guidance for the full year, though its Q4 2019 estimate was calling for 2020 revenue of $1.6B.

Netflixin’ on em

Not to be outdone by Roku, Netflix's stock skyrocketed 7% and reached a 52-week high, closing at $400.51. The Blockbuster-killer (*pours one out*) didn’t put out news, issue guidance... or announce that 'The Office' isn't leaving, but investors are flocking to the stock as users have had plenty of time to watch that psychopath Carole Baskin lie about feeding her husband to tigers.

The bottom line...

Despite last week's impressive market run-up, gains in this environment have been a story of the “haves” and “have-nots.” That is, if your core demographic includes "people sitting at home looking to waste time," investors are piling in.

But companies not named Roku, Netflix, Amazon, and Zoom continue to face "headwinds" (read: they better be praying to the Fed gods). Need proof? According to a WSJ 295 companies have pulled their full-year guidance as of April 10th, heightening investor's concerns with earnings season on the horizon.

Of course, this is only the tip of the iceberg when it comes to earnings uncertainty. The economy and markets face a long road to recovery. Isn't that right, Dr. Fauci?

Roku stock pops as company says it expects streaming hours grew 49% in Q1 [CNBC]

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