FMP

FMP

Enter

Roku Announces 10% Workforce Cut & Raises Q3 Forecast

- (Last modified: Dec 19, 2023 6:49 PM)

twitterlinkedinfacebook
blog post cover photo

Image credit: FMP

Roku (NASDAQ:ROKU) is set to trim its workforce by roughly 10% as part of its ongoing efforts to manage the growth rate of its annual operating expenses. As a result, shares jumped more than 9% pre-market today.

This move is projected to result in a cost of between $45 million and $65 million, according to a company filing. The majority of these expenses will be recorded in the third quarter of the year, and the reduction in staff is expected to be largely completed by the end of the fourth quarter, as confirmed by Roku.

Previously in March, Roku had announced a broader restructuring plan that entailed cutting approximately 6% of its workforce. As a result of these changes, the company now forecasts its third-quarter net revenue, excluding restructuring impacts, to fall within the range of $835 million to $875 million, up from its previous estimate of about $815 million.

Other Blogs

May 14, 2024 11:41 AM - Sanzhi Kobzhan

The easiest way to calculate stock’s target price and why the target price is important.

A stock's target price, also known as its fair value, is an indication of what a share can cost based on the company’s forecasted financial statements. It is important to know a stock's fair value to find undervalued stocks with great growth potential. Let's consider how investment analysts calculat...

blog post title

May 16, 2024 8:06 PM - Gordon Thompson

Deutsche Bank Upgrades AST SpaceMobile to Buy Amid Legal Challenges

On Thursday, May 16, 2024, Deutsche Bank upgraded its rating on NASDAQ:ASTS to Buy, maintaining a hold position. At the time of the announcement, ASTS was trading at $4.03. This decision was accompanied by an increase in the price target for AST SpaceMobile, raised to $22 from $19, as detailed in a ...

blog post title

May 24, 2024 9:30 AM - Rajnish Katharotiya

How to Access and Analyze Earnings Call Transcripts

Earnings call transcripts are invaluable resources for investors, analysts, and financial enthusiasts. They provide insights into a company's performance, strategy, and future outlook, making them essential for making informed investment decisions. With Financial Modeling Prep, Earnings Call Transcr...

blog post title
FMP

FMP

Financial Modeling Prep API provides real time stock price, company financial statements, major index prices, stock historical data, forex real time rate and cryptocurrencies. Financial Modeling Prep stock price API is in real time, the company reports can be found in quarter or annual format, and goes back 30 years in history.
twitterlinkedinfacebookinstagram
2017-2024 © Financial Modeling Prep