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Roku’s evolution from being a seller of inexpensive streaming video boxes, to being a significant player in the world of video advertising, took another leap forward Wednesday.

The company announced much better-than-expected second-quarter results, driven largely by its so-called platform business. Among other things, that business involves selling ads that will run on the millions of Roku video players smart TVs in use.

The company is benefitting from the growing number of consumers who are watching video streamed from the internet and the growing number of hours of streaming television they’re viewing, company CEO Anthony Wood told Business Insider.

“The shift to streaming is really happening,” he said. “It’s a big opportunity for us.”

To read more about Roku’s dominance in streaming, click here.

In related news:

Roku’s plan to take on Amazon and Netflix seems to be working – and has the stock gunning for a new record high.Shares of Roku were up more than 10% in early trading Thursday, indicating an opening price of $US52.15, after the company reported second-quarter earnings on Wednesday that blew Wall Street’s expectations out of the water.

In other news:

Jack in the Box is under fire for a “tone deaf”, sexually charged commercial about teriyaki bowls. The fast-food chain’s mascot uses the word “bowls” as a play on words.

Internal Starbucks documents reveal the drop date for the Pumpkin Spice Latte, and it’s the earliest date in years.Starbucks’ Pumpkin Spice Latte will debut on August 28, 2018, according to internal documents viewed by Business Insider.

After a catastrophic few weeks, Facebook could now lose its place as America’s 2nd-biggest website in a ‘paradigm shift’. The market-research firm SimilarWeb said Facebook’s monthly visits had fallen from 8.5 billion two years ago to 4.7 billion in July, while YouTube has been quietly edging up.

Everyone – including fast-food chains and beer giants – is tweeting ‘funding secured’ to mock Elon Musk.“Funding secured” quickly became a meme, with everyone on Twitter – including Carl’s Jr. and Busch Beer – making the same joke.

Tribune Media severs $US3.9 billion deal to be bought by Sinclair, and files suit against the nation’s largest broadcast station owner. Regulators at the FCC had objected to the deal, though President Donald Trump expressed his support for it.

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