Roku said it expected revenue from its two main business drivers—advertising and sales of streaming hardware—to fall in the fourth quarter as macroeconomic conditions pressured both consumers and advertisers to reduce their spending, sending the company’s shares down 18% in after-hours trading. San Jose, Calif.-based Roku is the nation’s largest maker of streaming hardware, but derives most of its revenue from advertising. It sells all ads viewed on its own streaming service The Roku Channel and also sells some ads that appear on other streaming services viewed on Roku devices. Read More...
Roku said it expected revenue from its two main business drivers—advertising and sales of streaming hardware—to fall in the fourth quarter as macroeconomic conditions pressured both consumers and advertisers to reduce their spending, sending the company’s shares down 18% in after-hours trading. San Jose, Calif.-based Roku is the nation’s largest maker of streaming hardware, but derives most of its revenue from advertising. It sells all ads viewed on its own streaming service The Roku Channel and also sells some ads that appear on other streaming services viewed on Roku devices.
