(Bloomberg) -- Roku Inc. shares fell as much as 11% in extended trading on Wednesday after it reported third-quarter results that missed expectations on key metrics. It also gave a fourth-quarter revenue view that was below the consensus view.
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The video-streaming platform company reported third-quarter revenue of $680 million, compared with the consensus of $681.1 million. It also posted 56.4 million active customer accounts for the quarter and 18 billion streaming hours. The Bloomberg Consensus estimate had been for 56.7 million active customer accounts and 18.53 billion streaming hours.
For the fourth quarter, Roku forecast net revenue between $885 million and $900 million. The analyst consensus is for revenue of $946 million.
“Despite the ongoing headwinds created by the global supply chain disruptions, Roku remains well positioned as a result of our scale, brand, technology, and relentless focus on the TV streaming experience,” the company wrote in a letter to shareholders.
The stock is down about 35% off a July peak after ending slightly higher in Wednesday’s regular session.
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