Roku tumbles as weak ad market dents forecasts

Roku Inc (NASDAQ:ROKU) shares are down 15% in pre-market trading after the TV maker warned it would face “difficult” growth rates in 2024, with earnings falling quarter-on-quarter due to weakness in the ad industry. Revenues during the first quarter of 2024 are predicted to fall to US$850 million, the lowest level since the same period in 2023. Underlying profits are set to fall to around the break-even level, marking a sharp switch from the profitability achieved in the last two quarters. In the first thre ...