In this photo illustration, a hand holding a TV remote control points to a screen that displays the Roku logo.
Rafael Henrique | Lightrocket | Getty Images
Shares of Roku plunged more than 25% on Friday, a day after the company reported second-quarter earnings that missed both top and bottom-line estimates.
The company posted earning losses of 82 cents per share and revenues of $764 million, both below consensus estimates, as ad and device sales remain under pressure. Roku also issued a third-quarter forecast that’s $200 million below expectation and said it is withdrawing its full-year growth estimate.
Roku attributed the loss to tough macroeconomic conditions such as inflation and supply chain that could hurt the selling of Roku TV and other devices. It also warned that the pressure from the downturn in the advertising market might continue.
“We believe this pullback mirrors the start…
