latest chart pattern of roku,
Another day of earnings, another streaming company struggling with subscribers.
Shares popped 7% in extended trading on Thursday before dropping, then popping back up, after missing on the bottom line but beating on the top. Roku reported LPS of $0.19 on revenues that were up 28% from last year at $734m.
It’s seeing its active subscriber growth slow, much like most other platforms out there, even Netflix. The platform added 1.1m accounts in to total 61.3m, seeing a deceleration of growth as its hardware business declines for the third straight quarter.
Still, Roku is bullish on the rest of the year, forecasting 25% growth in and 35% for the full year. However, it’s not unharmed by macroeconomic headwinds that are blowing everyone away, and sees no end to supply challenges and increased prices.