Roku Inc (NASDAQ: ROKU) saw its shares surge 5.01% in intraday trading, as investors reacted positively to news of Trump Media & Technology Group expanding its presence on the streaming platform. The company's stock price movement comes amid a broader market rally and growing interest in streaming and digital media stocks.
Trump Media & Technology Group announced the launch of its Truth+ TV streaming app and connected TV app in Canada and Mexico, with Roku being one of the key platforms supporting the new offering. This expansion could potentially bring more users and content to Roku's ecosystem, boosting its attractiveness to both consumers and advertisers.
While the direct impact of the Truth+ app on Roku's financials remains to be seen, investors appear optimistic about the potential for increased user engagement and ad revenue. This development comes at a time when Roku has been showing strong performance, with its recent Q4 earnings report revealing a 22% year-on-year revenue growth to $1.20 billion, exceeding analyst expectations by 4.4%.
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