Roku stock plunges as pessimistic earnings forecast suggests ad budgets could ‘degrade’
Shares of Roku Inc. fell 16% in after-hours trading on Wednesday after the streaming company beat expectations with its latest results, but gave a weaker-than-expected outlook for the holiday quarter, because economic conditions could further “degrade advertising budgets”. For the fourth quarter, Roku executives expect revenue of $800 million and a loss of $135 million …
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