Roku to cut about 10% of its workforce as it ups quarterly sales expectations and shares soar, again

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 streaming platform also said in a regulatory filing Wednesday that it expects adjusted third-quarter revenue of between $835 million and $875 million, which is much better than the $828.6 million that Wall Street was projecting. Roku’s shares, which have already doubled since the start of the year, ended Wednesday up about 3%.