Roku Inc.'s stock was eviscerated by 26% in extended trading after it offered paper-thin guidance and reported fiscal second-quarter revenue Thursday that fell short of Wall Street analysts’ forecasts. Read More...
The Wall Street Journal
Roku Swings to Second-Quarter Loss on Slower Ad Spending
Roku said it expected two of its main revenue drivers—advertising and sales of streaming hardware—to come under further pressure during the second half of the year, sending the company’s shares down 25% in after-hours trading. “We are in an economic environment defined by recessionary fears, inflationary pressures, rising interest rates, and ongoing supply chain disruptions,” the company said in a letter to investors Thursday in which it announced its second-quarter results. “We also believe that consumer discretionary spend will continue to moderate, pressuring both Roku TV and Roku player sales.”
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