Roku (ROKU) is the second best performing stock in the Russell 1000 today with a gain of more than 20%. The catalyst for this move is a strong earnings report after the close yesterday. ROKU is also one of ten stocks that reported a triple play in the past 24 hours. On top of raised guidance, ROKU also reported revenues of $250.1 million compared to estimates of $223.36 million, representing a 59.5% growth rate from a year ago and the second-highest sales figure for any quarter in the stock’s history.
While the larger than 20% move may jump out, looking through the stock’s earnings history in our Earnings Explorer tool, for ROKU it is actually more or less par for the course. ROKU has been one of the most volatile stocks on earnings, averaging a move on its earnings reaction day of +/-24.47%. The company has also reported two other triple plays in its seven prior reports; once in its first-ever report in November of 2017 and again last quarter. Both of these saw extremely positive reactions with a 54.94% full-day gain in 2017 and 28.11% gain last quarter. If ROKU manages to hold onto this 20% gain through the close, it will mark the third straight quarter with an over 20% gain in response to earnings.