shares crater on ‘recessionary fears’


A video sign displays the logo for Roku Inc, a Fox-backed video streaming firm, in Times Square after the company’s IPO at the Nasdaq Market in New York, September 28, 2017.

Brendan McDermid | Reuters

Roku shares plummeted more than 25% in extended trading on Thursday after the company missed expectations on the top and bottom lines for its second quarter and warned of “an economic environment defined by recessionary fears.”

Here’s how the company did:

  • Earnings: Loss of 82 cents per share vs a loss of 69 cents expected, according to Refinitv.
  • Revenue: $764 million vs $805 million expected, according to Refinitv.

The company attributed its poor financial performance due to macroeconomic…

Source cnbc.com

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