Roku expects decline in revenue in Q4

In brief

Roku warned of “a weak Q4” with declines in total net revenue and gross profit in its latest financial results.

The digital media company forecast its total net revenue in Q4 2022 would be $800m, a decline of 7.5% compared to Q4 2021. Total gross profit was predicted to be $325m in Q4 2022 compared to $830m in Q4 2021, and an adjusted loss of $135m was expected because of “inflationary pressures and a slowdown in adspend”.

For Q3 2022, Roku reported total revenue of $761.4m, up 12% year-over-year. It also registered 2.3 million new streaming accounts, taking its total to 65.4 million.