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Anthony Wood
David Orrell | CNBC

Roku shares fell as much as 12% in extended trading on Thursday after the video-streaming company issued fourth-quarter revenue and first-quarter revenue guidance that came in below consensus.

Here’s how the company did:

  • Earnings: 17 cents per share, adjusted, vs. 9 cents per share as expected by analysts, according to Refinitiv.
  • Revenue: $865.3 million, vs. $894.0 million as expected by analysts, according to Refinitiv.

Revenue grew by 33% year over year in the quarter, according to a statement, compared with 51% growth in the third quarter and 81% in the second quarter.

With respect to guidance, Roku called for $720 million in first-quarter revenue, which implies 25% revenue growth. The Refinitiv revenue consensus was $748.5 million.

During Thursday’s trading session, in which the S&P 500 index fell 2%, Roku’s stock had gone down 10%. Setting aside the after-hours move, Roku stock has fallen about 37% since the start of 2022, while the S&P was down about 8% over the same period.

Roku reported 60.1 million active accounts in the fourth quarter. That figure was up 17% year over and year and more than the 59.5 million that analysts polled by StreetAccount had been looking for.

In the fourth quarter, the company’s Platform segment, which includes digital advertising subscription and revenue sharing and sales of branded buttons on remote controls, generated $703.6 million in revenue, up 49% and lower than the StreetAccount consensus of $732.2 million. The segment’s gross margin came in at 60.5%, narrowing from 65.0% in the third quarter.

Player revenue, from sales of streaming players and audio devices, totaled $161.7 million, declining 9% as analysts surveyed by StreetAccount had expected $162.5 million.

In the quarter Roku said it had completed an agreement with Google to keep YouTube and YouTube TV on its service.

Executives will discuss the results with analysts on a conference call starting at 5 p.m. ET.

This is breaking news. Please check back for updates.

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This article was originally published by Cnbc.com. Read the original article here.