Roku reports bigger

(Reuters) -Roku reported a bigger-than-expected fourth-quarter loss on Latest developments of Puton foreign exchangeThursday, as it grappled with intense competition from deep-pocketed rivals and weak customer spending on video streaming, sending its shares down 15% in extended trading.

The company reported a loss of 55 cents per share, while analysts were expecting a loss of 52 cents, according to LSEG estimates.

(NASDAQ:) faces competition from streaming rivals such as Netflix (NASDAQ:) and Amazon (NASDAQ:)'s Prime Video to attract subscribers at a time when Americans are trying to reduce expenses amid sticky inflation.

Roku shares have fallen 4% since a media report on Tuesday that Walmart (NYSE:) was in talks to buy the company's rival Vizio for more than $2 billion.

The company has an exclusive deal with the retailer to sell products fulfilled by Walmart on its devices. Roku's stock more than doubled last year.

Roku, however, forecast first-quarter revenue above Wall Street estimates. It expects first-quarter net revenue of $850 million, compared with analysts' estimates of $834.1 million, according to LSEG data.

Total revenue for the fourth quarter was up 14% to $984.4 million.

Active accounts grew 14% to 80 million, and streaming hours rose 21% to 29.1 billion. Its average revenue per user (ARPU) slipped 4% to $39.92.

Statement: The content of this article does not represent the views of FTI website. The content is for reference only and does not constitute investment suggestions. Investment is risky, so you should be careful in your choice! If it involves content, copyright and other issues, please contact us and we will make adjustments at the first time!