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Cable cuts continue to accelerate as companies such as Disney and AT & T prepare to launch streaming services. And Wall Street investors bet that Roku will benefit from the trend. Roku's shares are about to reach an all-time high on Thursday.
Anthony Wood, Roku's CEO, told Fox Business's Stuart Varney that his company was excited about Disney's new streaming service, which should be launched in November.
| Teleprinter | security | Latest | Change | % Chg |
|---|---|---|---|---|
| ROKU | ROKU INC | 83.17 | + 18.25 | + 28.11% |
| DIS | WALT DISNEY COMPANY | 133.59 | -1.40 | -1.04% |
| T | AT & T INC. | 30.38 | 0.08 | + 0.26% |
"People are cutting the cord further. You have all these big and new services. It's really our engine and I think it's great for consumers. They have a lot more choice now. "
According to Wood, the increase in sales of smart TVs also offers a great opportunity to his business.
"In fact, in smart TVs in the United States, Roku became, in the last quarter, the first streaming operating system on the market. Now, if you buy a smart TV in the United States, one TV out of three is a Roku TV … We just went Samsung. "
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Roku released his latest earnings report on Wednesday after the market closed. The company raised its outlook for 2019 after revealing that its net business figure had increased by more than 50% over last year. The number of active Roku accounts also increased by 2 million during the quarter.
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