The streaming platform also said it expects adjusted third-quarter revenue of between $835 million and $875 million, which is much better than what Wall Street was projecting.
Roku is cutting about 10% of its workforce, or 360 people, and it will limit new hiring as it cuts costs to stem a series of quarterly losses.
The charge will mostly include severance and benefits costs, with the majority of the charge expected to occur in its fiscal third quarter. An impairment charge of $55 million to $65 million is anticipated for removing certain existing licensed and produced content from Roku-operated services on its tv streaming platform.REUTERS
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