Why Roku Stock Plunged 28% in February
Shares of video streaming company (NASDAQ: ROKU) dropped 28% in February according to data provided by S&P Global Market Intelligence. Although it reported solid fourth-quarter and full-year results, it was negatively impacted by the news that Walmart is acquiring one of its competitors.
Roku's fourth-quarter results were pretty strong. Revenue increased a solid 11% year over year, and both of its segments, platform and device, demonstrated growth.
There was good progress on profitability. Gross margin expanded by 2.5 percentage points to 44.5%, and operating expenses decreased 12% from last year. That led to a marked improvement in the operating loss, from $250 million last year to $104 million this year. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) turned from a $95 million loss last year to positive $48 million this year.
Source Fool.com
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