Roku, Inc shares are trading higher after the company disclosed plans to cut workforce by 10% and raised third-quarter revenue guidance above the consensus.
Portfolio Pulse from Benzinga Newsdesk
Roku, Inc has announced plans to reduce its workforce by 10% and has raised its third-quarter revenue guidance above consensus. This has led to an increase in the company's share price.
September 06, 2023 | 12:33 pm
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Roku's decision to cut its workforce by 10% and raise its Q3 revenue guidance has led to a rise in its share price.
Roku's decision to cut its workforce is likely a move to reduce operational costs, which could improve profitability. The raised Q3 revenue guidance indicates strong performance, both of which are positive signals to investors, leading to the rise in share price.
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