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Benzinga
Benzinga
Business
Henry Khederian

Why Roku Shares Are Falling

Roku Roku Inc

Roku Inc (NASDAQ:ROKU) shares are trading lower by 22.9% at $111.60 Friday morning after the company reported worse-than-expected fourth-quarter sales results and issued first-quarter net sales guidance below estimates.

Roku reported quarterly sales of $865.30 million which missed the analyst consensus estimate of $894.01 million by 3%. This is a 33% increase over sales of $649.89 million in the same period last year. Roku is guiding for first-quarter net sales of $720 million versus the analyst consensus estimate of $748.5 million.

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