Shares of streaming-TV platform Roku (NASDAQ:ROKU) soared on Monday, rising as much as 27.4%. As of 12:50 p.m. EDT, the stock was up 25.4%.
Roku stock’s gain followed an announcement from the company about surging active accounts and streaming hours for its fourth quarter, indicating the period’s financial results may be better than expected.
For its fourth quarter, Roku’s active accounts and streaming hours on its platform were up 40% and 68% year over year, respectively, the company said in a press release on Monday. This put streamed hours during the quarter at 7.3 billion. Active accounts topped 27 million.
These metrics compare to 63% year-over-year growth in streaming hours and 43% year-over-year growth in active accounts in the third quarter.
The metrics for Q4 demonstrate “continued momentum for the Roku platform as consumers shift toward streaming and away from traditional linear TV,” Roku said.
Roku hasn’t set a specific date for its fourth-quarter earnings release yet, but management said it will take place in February. In the quarterly update, investors will get a better idea of how these operating metrics impacted Roku’s financials.
Management will also provide the company’s outlook for 2019 in its fourth-quarter update next month.