Ouch! Roku Stock's Bad 2022 Just Got Worse
Going into Roku's (NASDAQ: ROKU) third-quarter earnings report Wednesday afternoon, battered and bruised shareholders were likely hoping for some good news. While there were certainly a few positives in the report, the company's guidance for a year-over-year revenue decline in Q4 likely spooked some investors.
Further, Roku said its chief financial officer Steve Louden is leaving the company sometime next year. Given that the transition for Roku's CFO comes after the stock lost more than three-fourths of its value this year, the news may not sit well with investors.
Shares of the streaming-TV platform provider saw a double-digit decline in after-hours trading as investors weighed the implications of management's worse-than-expected outlook for the important holiday quarter and a CFO transition.
Source Fool.com
