While growth is expected to slow down from last year's levels, 'we expect continued significant growth in the second half of the year,” Roku says.
Roku Inc. delivered better-than-expected earnings and revenue Wednesday, but its shares slipped in the extended session after active-account growth came up lighter than anticipated.
The company generated net income of $73.5 million, or 52 cents a share, versus a loss of $43.1 million, or 35 cents a share, a year prior. Analysts surveyed by FactSet were expecting 13 cents a share in GAAP earnings. Roku sees an “uncertain operating environment” due to the pandemic and warned in its shareholder letter that supply constraints and elevated component costs will “worsen” in the second half of the year, “leading to increasing negative player gross margin.” The company expects the challenges to continue into 2022.
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