Roku stock plummets on earnings and revenue misses
Shares of Roku fell over 25% in pre-market trading after the company missed expectations on earnings (-$0.82 versus -$0.69 expected) and revenue ($764m versus $805m expected).
Roku founder and CEO Anthony Wood attributed the miss to a “significant slowdown in TV advertising spend due to the macroeconomic environment” in the earnings call.
The company added 1.8 million active accounts in Q2 to end the quarter with 63.1 million users.
