Coming into Thursday afternoon's earnings report, Roku (NASDAQ: ROKU) appeared to be making a comeback. After plunging more than 90% from its pandemic peak, Roku's share price had more than doubled from its bear market bottom as revenue growth has accelerated and the company benefited from lower costs after multiple rounds of layoffs.

However, the leading streaming distribution platform's fourth-quarter report left investors unimpressed, and the stock has fallen over 20% as of this writing.

Roku's actual numbers for the period mostly met expectations, but management's guidance was weak in some key metrics, and the report indicated the company's recovery, and that of the ad market, would be uneven.

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Source Fool.com