Roku stock soars on strong guidance as company sees signs of ad rebound

Roku (ROKU) stock soared as much as 30% in midday trading on Thursday after the company reported strong fourth quarter guidance and pointed to further signs of recovery in its ad revenue.

Roku guided to adjusted EBITDA of $10 million in the fourth quarter, compared to an expected loss of $57.6 million, according to consensus estimates compiled by Bloomberg. It also expects fourth quarter revenue of roughly $955 million, above Wall Street estimates, while total gross profit is expected to…