Stock Alert: Roku Rises On Outlook

(RTTNews) - Shares of T.V streaming platform Roku, Inc. (ROKU) are climbing more than 8% Tuesday morning after the company raised its first-quarter revenue outlook above estimates.

Monday the company has raised its quarterly revenue guidance to $307 million - $317 million. On average 15 analysts polled by Thomson Reuters expect revenue of $300.44 million.

The company also estimates that its active accounts to be 39.8 million as of March 31, 2020, an increase of nearly 3 million since December 31, 2019.

However, Roku withdrew its full-year outlook due to economic uncertainties amid the COVID-19 pandemic.

The company expects to report its first-quarter earnings on May 7.

ROKU is currently at $105.16. It has traded in the range of $55.02- $176.55 in the past one year.