Will Roku's Latest Cuts Help Make the Business Profitable?
Digital media company (NASDAQ: ROKU) has been struggling with profitability in recent quarters. While the business has been growing thanks to the rising popularity of streaming services, the company has incurred a loss of more than $100 million for five consecutive quarters. The losses, however, have been shrinking.
Could another round of job cuts be what Roku needs to get back into the black? And what should investors do?
Last week, Roku announced that it was going to reduce its workforce by approximately 10%, or about 300 people, in a bid to save money. The company has previously cut jobs in March and November. In both of those instances, Roku cut approximately 200 jobs.
Source Fool.com
Roku Stock
€60.32
-1.680%
Currently there is a rather positive sentiment for Roku with 33 Buy predictions and 6 Sell predictions.
With a target price of 93 € there is a hugely positive potential of 54.18% for Roku compared to the current price of 60.32 €.
