Roku shares dropped as much as 25% on after the streaming company reported fourth-quarter revenue on that missed expectations.
Roku also gave disappointing guidance for the first quarter.
The decline is on top of the 10.3% drop Roku posted on Thursday before it published earnings.
Should the move holds until close, it could mark Roku’s worst day of trading ever. Its biggest drop to date was on Nov. 8, 2018, when shares fell 22.29%.
The company posted revenue of $865.3 million, which fell short of analysts’ projected $894 million.
Revenue grew 33% year over year in the quarter, which is slower than the 51% growth rate it saw in the last quarter and the 81% growth it posted in the second quarter.
For the first quarter, Roku said it sees revenue of $720 million, which implies 25% revenue growth. Analysts were projecting first-quarter revenue of $748.5 million.
Roku expects revenue growth in the mid-30s percentage range for all of 2022, Steve Louden, the company’s finance chief, said on a call with analysts following the earnings report.
Roku blamed the slower growth on supply chain disruptions that hit the U.S. television market. The company said it chose not to pass higher costs onto the customer in order to benefit user acquisition.
The company said it expects supply chain disruptions to continue to persist this year, though it doesn’t believe the conditions will be permanent.
