Roku Inc's stock surged 7.24% in post-market trading following the release of its first-quarter financial results, which significantly exceeded analyst expectations.

The streaming platform provider reported a substantial return to profitability, with Q1 earnings per share of $0.57 beating consensus estimates of approximately $0.31-$0.33. Revenue for the quarter reached $1.25 billion, surpassing expectations of around $1.20 billion and representing a 22% year-over-year increase. The company also raised its annual platform revenue forecast to $5.0 billion, indicating 21% growth compared to its previous projection.

Roku's strong performance was driven by platform revenue growth of 28% year-over-year to $1.13 billion, with advertising revenue increasing 27% and subscription revenue climbing 30%. The company also provided optimistic Q2 revenue guidance of approximately $1.3 billion, which exceeds analyst consensus estimates.