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Roku Inc (NASDAQ: ROKU) shares tumbled 23% on Friday, a day after the company posted disappointing quarterly results.
The company, which blamed inflation and supply chain issues for the results, posted revenue of $764 million in the second quarter, compared to expectations of $805 million, according to Refinitv.
Roku also posted earnings loss of 82 cents per share, higher than expectations of 69 cents.
For the third quarter, Roku expects revenue of $700 million, well below the $902 million that analysts were estimating.
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