Roku Inc (ROKU) shares tumbled 6.35% in pre-market trading on Friday, following the company's mixed first-quarter results and disappointing second-quarter revenue forecast. While Roku beat Q1 revenue expectations with $1.02 billion against estimates of $1.01 billion, its outlook for the coming quarter fell short of Wall Street projections.
The streaming platform provider forecast second-quarter revenue of $1.07 billion, below the analyst consensus of $1.09 billion. Additionally, Roku trimmed its annual revenue expectations, now projecting full-year revenue of $4.55 billion, down from its previous forecast of $4.61 billion. The company cited economic uncertainty and tariff-related concerns as factors impacting its outlook.
Despite reaffirming its platform revenue guidance for 2025, investors appear concerned about Roku's growth trajectory amid persistent macroeconomic challenges. The company's devices segment, in particular, faces potential headwinds from tariffs on Chinese imports. While Roku announced plans to acquire streaming service provider Frndly TV for $185 million, this strategic move was not enough to offset the market's negative reaction to the cautious guidance.
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