CEO of Roku, Anthony Wooden speaks onstage at The Way forward for TV Streaming & Leisure throughout Tribeca X – 2021 Tribeca Competition at Spring Studios on June 18, 2021 in New York Metropolis.
Arturo Holmes | Getty Photos
Roku shares dropped in after-hours buying and selling on Wednesday after the corporate reported third-quarter earnings that missed income estimates.
Roku reported third-quarter earnings of 48 cents per share on income of $680 million. Analysts had anticipated earnings of 6 cents on income of $683.4 million. Income elevated 51% from a yr earlier.
Energetic accounts on the platform elevated 23% year-over-year to 56.4 million. That is additionally a rise of 1.3 million lively accounts from the second quarter, however the development charge has slowed.
In its shareholder letter, the corporate mentioned the slowdown is a results of “international provide chain disruptions which have impacted the U.S. TV market.” TV gross sales within the quarter additionally fell under pre-pandemic ranges in 2019, whereas authentic gear producers suffered from stock constraints, the corporate added.
“The pandemic continues to disrupt international provide chains,” CFO Steve Louden advised CNBC, in an interview after the report. “For the TV trade, you are having elevated element pricing, stock availability points, and provide chain logistics delays.”
— CNBC’s Alex Sherman contributed to this report.
