Streaming platform Roku, Inc. (NASDAQ: ROKU) reported a net loss for the third quarter of 2022 compared to a profit last year, mainly reflecting the continued decline in advertising demand.
The company reported total revenues of $761.4 million for the three months ended September 2022, which is up 12% from the year-ago period. The number of active accounts increased by 16% to 65.4 million.
Roku incurred a net loss of $122.2 million or $0.88 per share in the third quarter, which marked a deterioration from the prior-year period when the company generated earnings of $68.9 million or $0.48 per share.
Check this space to read management/analysts’ comments on Roku’s Q3 2022 earnings
“While the current environment is difficult, we believe it is also temporary, and as consumers and businesses regain their footing, we expect Roku to be in a stronger position than ever,” said Anthony Wood, CEO of Roku.
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