Roku Stock Is Tumbling Friday – Here’s Why
Roku, Inc (NASDAQ:ROKU) stock is trading lower Friday, a day after it reported an upbeat financial fourth-quarter results.
The company clocked a fourth-quarter revenue of $984.43 million, up 14% year-over-year ahead of the Street consensus of $968.24 million.
The EPS loss of $(0.55) missed the Street loss estimate of $(0.54).
It expects first-quarter revenue of $850.00 million, above the consensus of $833.57 million.
Roku added 4.2 million net accounts in the quarter. Average revenue per user was $39.92, down 4% year-over-year. The company had 29.1 billion streaming hours in the fourth quarter, up 21% year-over-year.
Oppenheimer analyst Jason Helfstein downgraded Roku from Outperform to Perform.
Roku remains engaged in many initiatives to drive its topline and margins.
In January, the TV streaming devices company showcased its premium Pro Series TVs, targeting the high-end market with models up to $1,500, challenging the likes of Samsung and LG.
Streaming companies, including Roku, Walt …
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