Shares of Roku (NASDAQ: ROKU) soared 46.7% in January, according to data from S&P Global Market Intelligence , after the streaming-media platform leader preannounced select fourth-quarter 2018 results .
It helped that the broader market rebounded nicely last month after a difficult December. But Roku stock also popped more than 25% on Jan. 7 alone -- the same day the company revealed that its number of active accounts climbed 40% year over year to 27 million, while its quarterly streaming hours skyrocketed 68% to 7.3 billion.
IMAGE SOURCE: ROKU.
"Strong active account growth and accelerating streaming hours point to consumers' growing enthusiasm for streaming, making Roku America's largest and fastest-growing TV streaming distribution platform," said Roku CEO Anthony Wood.
Roku's exceptional 68% increase in streaming hours marked a 5-percentage-point sequential acceleration from the third quarter and brought the metric's growth for the full year 2018 to 61%. The move further indicates a continued shift for Roku away from its previous core streaming player sales and toward its higher-margin, higher-growth platform segment -- a trend that recently spurred one analyst to label Roku her "Top Pick for 2019."
Roku is scheduled to release both its full fourth-quarter 2018 results and 2019 outlook on Feb. 21. But considering its encouraging preview of two key metrics ahead of tha t report , and with shares entering 2019 having fallen more than 60% from their October highs, it was no surprise to see the stock rebound in a big way last month.
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