[ad_1]
By Sam Boughedda
Investing.com — Shares of Roku Inc (NASDAQ:) closed considerably decrease Friday after the streaming firm reported fourth-quarter earnings that noticed income miss expectations and steerage for the primary quarter fall in need of expectations.
The corporate introduced earnings per share of 17 cents on income of $865.33 million. Analysts polled by Investing.com anticipated EPS of 6 cents on income of $896.94 million.
The report resulted in Roku shares closing Friday down 22.34%, including to Thursday’s 10.37% loss earlier than it posted earnings.
Roku sees first-quarter income at $720 million. Nonetheless, this was under the consensus of $748.5 million for the quarter.
The corporate stated its slower development was as a consequence of provide chain disruptions within the tv market, which it expects to proceed into 2022.
The report prompted Pivotal Analysis analyst Jeffrey Wlodarczak to downgrade the inventory from to promote from maintain. Wlodarczak stated in a be aware that “the underside line is with growing competitors, a possible considerably weakening world economic system, a market that’s NOT rewarding non-profitable tech names with lengthy pathways to profitability and our new goal value we’re lowering our score on ROKU from HOLD to SELL.”
In distinction, Needham analyst Laura Martin was bullish in her be aware following the report, saying the agency is is a purchaser “on weak spot.”
[ad_2]
Source link
