Roku Investors Should Ignore Management's Bleak Industry Outlook

Roku Investors Should Ignore Management's Bleak Industry Outlook

Roku (NASDAQ: ROKU) reported earnings results that were better than Wall Street analysts expected, but investors still sold off shares of the growth stock after digesting its letter to shareholders. Although all of the core metrics at Roku -- revenue, accounts, hours streamed -- saw strong results, management reiterated its uncertainty regarding the overall TV ad market. "We believe that total TV ad spend will not recover to pre-COVID-19 levels until well into 2021," management wrote in its release.