Year said it expected two of its main revenue drivers – advertising and streaming hardware sales – to come under further pressure in the second half of the year, sending the company’s shares tumbling 25% off in after-hours trading.
“We are in an economic environment defined by recession fears, inflationary pressures, rising interest rates and continued supply chain disruptions,” the company said in a letter to investors Thursday. announced its second quarter results. He predicted that ad spend would continue to be negatively affected as a result. “We also believe consumer discretionary spending will continue to moderate, putting pressure on sales of Roku TV and Roku players.”