Roku Shares Plummet 24% as Q2 Ad Spending Withers

The video streaming platform missed on second-quarter expectations, sending its stock price into a tailspin

Roku failed to meet its modest revenue expectations as growth and advertisement sales continue to slow to the company’s lowest pace in over four years, according to its second-quarter earnings report Thursday.

The company posted overall revenue of $764 million for Q2, up 18% year over year, which couldn’t quite meet expectations that had its growth at around $805 million due to a depressed ad sales market. Roku also added another 1.8 million active accounts in Q2, bringing the company to a total of 63.1 million. 

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Katie Campione

Katie Campione is a TV Reporter at TheWrap. She has contributed to The Hollywood Reporter, People Magazine, The Associated Press, and more. She has a BA in Journalism from the University of Florida. Find her on Twitter: @Katie_Campione