Roku Shares Tumble as Streaming-Device Giant Warns of Tough Holiday Season - The Wall Street Journal

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https://www.wsj.com/articles/roku-q3-earnings-report-2022-11667430844

Roku Inc. said it expected gross from its 2 main concern drivers—advertising and income of streaming hardware—to autumn successful the 4th fourth arsenic macroeconomic conditions pressured some consumers and advertisers to trim their spending, sending the company’s shares down 18% successful after-hours trading.

Chief Executive Anthony Wood told investors Wednesday that the coming vacation play was “probably going to beryllium antithetic than the emblematic vacation season.” He said advertisers including artifact marketers were reducing their fourth-quarter advertisement spending due to the fact that of uncertainty implicit a imaginable recession.