) slid 8% on Wednesday after a Wall Street analyst warned softness in the ad market will continue to impact the company's earnings through the end of the year.
Cahall said he expects softer fourth-quarter guidance as a result, anticipating that revenue per streaming hour will fall 8% year-over-year in Q4 compared to an estimated 4% annual drop in Q3. Roku shares are down about 17% over the past three months but have soared more than 50% since the start of the year., brand advertising remained pressured as total US advertising came in flat year over year. Spending on traditional TV fell 9.4% while traditional TV ad scatter sank 17.2%.
FILE - This Aug. 13, 2020 file photo shows a logo for Roku on a remote control in Portland, Ore. Roku is cutting about 10% of its employees, or 360 people, as the streaming company looks to lower expenses. Roku Inc. said in a regulatory filing, Wednesday, Sept. 6, 2023, that it anticipates a restructuring charge of $45 million to $65 million related to the job cuts Hold quality growth stocks such as Okta and WSP Global in your TFSA to benefit from outsized gains over time.
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Source: YahooFinanceCA - 🏆 47. / 63 Read more »