Roku falls 8% after Wall Street analyst warns of more ad market 'softness'

) 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.

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

Wall Street ends up on earnings optimism; consumer discretionary, transports jumpKitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
출처: KitcoNewsNOW - 🏆 13. / 78 더 많은 것을 읽으십시오 »

Planemakers bet on steady demand for business jets, but Wall Street waryPlanemakers are betting on steady demand for business jets as the world's largest corporate aircraft show kicks off on Tuesday, but analysts are turning...
출처: YahooFinanceCA - 🏆 47. / 63 더 많은 것을 읽으십시오 »