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Roku's stock soars after upbeat active user, streaming hours update

Tomi Kilgore

Shares of Roku Inc. ran up 9.1% in premarket trade Monday, after the streaming TV content connection services company provided an upbeat fourth-quarter outlook. The company said active accounts in the latest quarter rose about 40% from a year ago to 27 million while streaming hours jumped 68% to 7.3 billion hours. The FactSet consensus for streaming hours was 6.6 billion. Roku said it would provide 2019 guidance when it reports full fourth-quarter results in February. The stock has plunged 49.6% over the past three months through Friday, while the S&P 500 has lost 12.3%.