Media stocks pop as Roku rally lifts the sector

Roku reported strong trends in content distribution and advertising as well as uptake of its Roku-branded TVs.

Strong usership for Roku means more points of access for subscribers to Paramount+, Max, Netflix, Peacock and other streaming services.media giant's agreement to buy Comcast's remaining stake in Hulu.. The company's active accounts for the third quarter beat analyst estimates, coming in at 75.8 million compared to the 75.33 million Wall Street expected, according to StreetAccount.

Strong usership for Roku means more points of access for subscribers to Paramount+, Max, Netflix, Peacock and other streaming services.The positive results follow something of a change of pace for the streaming industry after a period of uncertain subscriber growth.Paramount reports its quarterly earnings report after the close on Thursday. Warner Bros. Discovery and Disney each report next week.

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Roku Beats Wall Street Revenue Expectations, Sees Improvement in Ad BusinessThe company cited “diversifying demand sources of advertisers” on the platform, as well as expanding the number of partnerships for improved ad revenue numbers.
Source: THR - 🏆 411. / 53 Read more »

Stock market today: Asian shares track Wall Street gains ahead of Fed decision on interest ratesAsian shares are mostly higher after Wall Street advanced to claim back some of the ground it gave up in another losing month. Tokyo's benchmark jumped 2.4%. Investors are awaiting a decision by the Federal Reserve Wednesday on interest rates. On Tuesday, the S&P 500 rose 0.6%, though it fell 2.2% in the month of October.
Source: AP - 🏆 728. / 51 Read more »