Roku's Cutting Costs but Profits Still Won't Show Up Until Next Year
(NASDAQ: ROKU) is committed to turning a profit in 2024, and it's taking some big steps to get there.
The streaming platform provider announced a round of layoffs impacting 10% of its workforce earlier this week. Roku will also close some of its offices and remove certain content from its streaming service, The Roku Channel. That's going to save the company a lot of cash in leases, rights, and salaries.
But there are some big expenses related to these moves first, and investors shouldn't expect Roku's profits to show up until 2024.
Source Fool.com