Roku’s market decline is tied to big tech’s streaming success
Streaming giant Roku released its fourth quarter earnings report on Feb. 17, and while the numbers were generally positive, the stock still suffered a 35% plunge.
The dip is partly related to Roku missing analyst revenue projections, which were $894 million (pdf), much more than the $865 million the company reported for the three months ending on Dec. 31, 2021. The platform’s growth trajectory has also slowed compared to its pandemic high
“For 2022, we expect ongoing supply chain disruptions will continue to impact the global economy,” Roku CEO Anthony Wood told investors. “This will affect the broader consumer electronics space, and the TV industry in particular. Overall TV unit sales are likely to remain below pre-COVID levels, which could affect our active account growth.”
Read the rest of this story on qz.com. Become a member to get unlimited access to Quartz’s journalism.