Crest View International Limited Comments on Roku Stock Rallying Higher on New Subscribers
Hong Kong wealth management company Crest View International Limited, has stated that Roku Inc., the Californian entertainment streaming company reported a positive spike in regards to its additional subscribers.
Analysts from Crest View International Limited stated that within Roku Inc.'s fourth-quarter results, the company had benefited from larger than anticipated subscribers to its newly released Disney (News - Alert)+ streaming platform.
Roku Inc., saw 4.6 million new subscribers bringing the final number of users to 36.9 million within the fourth-quarter. The report also included a projected revenue loss which was lower than previously predicted. Shares continued to rally after the fourth-quarter results were published,increasing up to 13 percent through the trading day.
"Exclusive streaming originals on the Disney+ platform has brought increased subscribers. With more money being dedicated to creating more content, we can only see more subscribers to come within the near future." Commented James Turner, Director of Sales & Trading at Crest View International Limited.
The new trend with consumers has seen a decline in traditional cable companies in the United States, with more individual consumers now switching to new popular on-demand streaming services.
"Dominating the market share for on-demand streaming services are currently Netflix, Apple and newcomer Disney+. However, with creased competition coming from the likes of Comcast's (News - Alert) NBCUniversal launching their own streaming service titled Peacock, and AT&T planning to launch an additional HBO brand name, the market share for streaming services is hotting up." Commented John Harrison, Head of Wealth Management at Crest View International Limited.
Analysts from Crest View International Limited also highlighted that Roku's sales forecast was $300 million, with the actual four-quarter results, published at $310 million.
About Crest View International Limited
Crest View International Limited is a private wealth management company headquartered in Hong Kong. Crest View International Limited manages over $8.74 billion (USD) on behalf of its clients from around the world. Established in 2013, Crest View International Limited has been providing its clients with a range of assets including equities, fixed income, commodities and foreign exchange.