Roku Inc. (NASDAQ: ROKU) reported a wider loss in the second quarter of 2020, while revenue grew 42% to $356 million. Loss of $0.35 per share was bigger than the Street’s expectations. However, revenue surpassed the analysts’ views.
Roku shares were down about 1% immediately after the earnings announcement.
Because of COVID-19 pandemic impact, Roku didn’t issue any outlook this time. The company stated that ad industry outlook remains uncertain for Q3 and Q4. The company expects total TV ad spend will not recover to pre-COVID-19 levels until well into 2021. Advertisers in industries like Casual Dining, Travel and Tourism have significantly slowed their spending.
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