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Roku Beat Expectations, but the Stock Is Plunging Anyway

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Roku stock was down about 14% in premarket trading Thursday after the company reported a smaller-than-expected loss.

Roku (ticker: ROKU) reported an adjusted third-quarter loss of 22 cents a share, better than the 28 cents loss Wall Street expected. Revenue of $260.9 million was above the Wall Street consensus of $257 million.

The company’s...