Roku Inc. shares fell as much as 11% in extended trading on Wednesday after it reported third-quarter results that missed expectations on key metrics. It also gave a fourth-quarter revenue view that was below the consensus view as supply chain issues weigh.
The video-streaming platform company reported third-quarter revenue of $680 million, compared with the consensus of $681.1 million. It also posted 56.4 million active customer accounts for the quarter and 18 billion streaming hours. The Bloomberg Consensus estimate had been for 56.7 million active customer accounts and 18.53 billion streaming hours.
For the fourth quarter, Roku forecast net revenue between $885 million and $900 million. The analyst consensus is for sales of $946 million.