Roku Inc (NASDAQ:ROKU) shares fell Friday after the home entertainment company reported 4Q revenue that came in below Wall Street estimates.
The company reported $865.3 million in revenue during 4Q compared with consensus estimates of just over $894 million.
Revenue did grow by 33% year over year, compared with 51% growth in the third quarter and 81% in the second quarter, but Roku said it was suffering from supply chain issues that hit sales of television sets and its streaming devices.
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Gross margins fell by around 3% in the quarter, according to the numbers. The firm did see 60.1 million active accounts in the fourth quarter, up 17% year over and year and more than the 59.5 million that analysts were expecting.
The company told investors that it sees delayed advertising spend in sectors affected by supply chain issues continuing into 2022, which will impact how Roku is able to monetize content.
Roku expects 1Q revenue of $720 million, compared with analysts' estimates of $748.5 million compared to Refinitiv revenue estimates of $748.5 million.
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