Roku shares jumped 7 percent in the first minutes of trading Thursday, a day after an earnings beat revealed strong ad revenue.

Shares opened above $38, in the company’s highest open in nearly two months.

On Wednesday, Roku reported a smaller-than-expected loss in the first quarter and posted higher revenue from its streaming platform than from the sale of its physical devices — indicating the company’s advertising push is so far paying off.

The stock has seen a number of big moves since hitting the public markets last year. The company’s single best day came in November after its first-ever earnings report, when shares rose nearly 55 percent.

Roku jumped nearly 9 percent Wednesday in anticipation of the first quarter report, but the stock was still down 30 percent on the year.

Source: Tech CNBC
Roku shares gain after earnings show strong ad revenue