Roku has been upgraded by investment group Macquarie, who have anticipated that the company will outperform expectations. Furthermore, they predict that Roku will triple its sales over the next three years.
The analyst note stated that Macquarie expects Roku to have 72 million customers by 2022, which is a huge increase based on the 31 million it reported at the end of Q2 for 2019.
This news comes in light of Roku announcing plans to expand into new markets on a global scale. The company is taking its TV operating system outside of North America for the first time, with Hisense UK releasing its first Roku-powered TVs in Q4 of 2019.
Macquarie analyst Timothy Nollen said: ‘Roku has built a leading position in the US, and we believe its devices will find a ready market abroad.’
Roku’s revenue for Q2 of 2019 were $250.1 million up 59% year over year. Furthermore, gross profits went up by 47% year over year, reaching $114.2 million when the report was made. The company also stated that monetised video ad impressions had doubled from Q2 of 2018.
