Roku Inc. shares were creamed 15% in after-hours trading Wednesday after it reported a third-quarter loss nearly triple that of a year ago.
Roku, a maker of video-streaming hardware, reported an adjusted loss of $26.5 million, or 22 cents a share, compared with a loss of $9.5 million, or 9 cents a share, in the year-ago period.
Roku makes streaming dongles and owns a streaming platform and channel. The company was under some strain, however, from increased competition, including Apple Inc.’s recently launched Apple TV+. Roku also faces fierce competition from Amazon.com Inc.’s Fire TV and Alphabet Inc.’s Google’s Chromecast.
MacDailyNews Take: If you want the best video streaming hardware, software, and user interface, and you value your privacy, you want an Apple TV 4K, not some Roku or any other piece of junk.