(Roku) Shares of Roku Inc. fell more than 22% on Friday after the company said it expects revenue of $720 million in the first quarter of 2022, below estimates of $748.5 million.
The lower forecast happens as Roku faces headwinds from the global supply chain crunch amid declining pandemic boosts.
In the fourth quarter of 2021, Roku reported total revenue of $865.33 million, up from $649.9 million in the prior year. FY21 revenue was $2.76 billion, more than $1.778 billion in the prior year.
Net income in the fourth quarter fell to $23.69 million, from $67.31 million in the prior year. FY21 net income was $242.4 million, up from a loss of $17.51 million in the previous year.
Roku reported that it ended the fourth quarter and 2021 with 60.1 million active accounts, an increase of 8.9 million from the fourth quarter of 2020.
Active Revenue Per User rose 43% from the prior year to $41.03, as streaming hours increased by 14.4 billion from the prior year to 73.2 billion.
ROKU: NASDAQ is down -22.36% on premarket.
