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Roku shares plunge after streaming device maker breaks earnings win streak

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Shares of Roku plunged on Thursday, after the streaming devices company posted third-quarter results that missed Wall Street’s expectation following multiple quarters of blowout growth.

Roku reported a third-quarter loss of 22 cents a share, worse than the 18 cents a share loss analysts surveyed by FactSet expected. Roku had beaten analysts’ expectations for quarterly earnings in seven of its last eight reports.

“ROKU broke a string of 2019 beats reporting a mixed 3Q and a frankly surprisingly mixed 4Q despite its (temporary) leadership position in the distribution of Disney+,” Pivotal Research analyst Jeffrey Wlodarczak said. “We are not surprised by the … decline indication in the…



Source cnbc.com

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