Roku Stock Falls After Q3 Earnings: Supply Chain Disruptions Continue Causing Damage
Roku (NASDAQ: ROKU) reported third-quarter earnings after the market closed on Nov. 3. The stock is down 11% since the announcement as the company highlighted how supply chain issues continue to hinder its operations. To make matters worse, it expects these issues to persist.
The difficulty is hitting Roku in two ways: Supply chain bottlenecks make it costly to produce and deliver its players. And with short supplies of products affecting broad swaths of the economy, companies are reducing how much they spend on advertising -- less reason to advertise if you're out of merchandise to sell.
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Source Fool.com
