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Roku Slumps on Weaker Q4 Revenue Guidance as Supply-Chain Woes Bite -Breaking

by Mike Robinson

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© Reuters.

By Yasin Ebrahim

Investing.com Roku The streaming device maker’s fourth-quarter report and the miss in third-quarter revenues caused by supply-chain problems, which slowed television consumption, led to slumping after-hours trading.

Roku (NASDAQ) fell 10% aftermarket hours

Roku reported 48 cents per Share on Revenue of $680 Million in Q3, compared to estimates of 6 cents.

The quarter saw active accounts rise by 1.3 million to 56.4 millions, which was below the estimates of 56.7million. Streaming hours reached 18.0 billion, an increase in streaming hours of 0.7 billion from Q2 2021 but still within reach of estimates for 18.3 trillion.

According to the company, “The slowdown of active account growth this quarter is, in large parts, due to global supply chain disruptions which have impacted U.S.TV market.”

The average revenue per user was 49% higher at $40.10, year over year.

The company’s Q4 revenues were $893 million, an increase of 37% over the previous year, however, they are still below the $948.5 million estimates.

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