Internet streaming video hardware and software provider Roku ( ROKU ) saw its stock soar in its second day of trading Friday after a successful initial public offering on Thursday.
[ibd-display-video id=2324582 width=50 float=left autostart=true]Roku shares ended the regular trading session up 12.9% to close at 26.54 on the stock market today . Intraday, Roku stock climbed as high as 29.80.
Roku went public at $14 a share and saw its stock rocket 68% to 23.50 in its first day of trading Thursday.
Best known for making set-top boxes and dongles for streaming Netflix ( NFLX ) and other Internet TV services, Roku also provides software for smart TVs and gets revenue from advertising on its home screen. Plus, Roku gets a share of revenue from subscriptions and pay-per-view content sold through its platform.
The company describes itself as a "content distribution platform." It had more than 15 million monthly active users as of June 30, up 43% from a year earlier.
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Roku's home screen provides access to advertiser-supported and subscription-based TV networks. In the U.S., it offers more than 5,000 streaming channels on its platform.
Roku also offers access to transactional video-on-demand content so users can watch pay-per-view movies, TV shows and other content.
On Sept. 22, Apple released its latest set-top box, the Apple TV 4K, which can stream video in ultra-high-definition 4K resolution. On Wednesday, Amazon announced its next-generation Fire TV device, which features 4K ultra-HD video, high dynamic range and other improvements.