Streaming device maker Roku (NASDAQ:ROKU) Inc is aiming to turn a profit in 2024 as it strives to drastically cut costs to ride out a weakness in the ad market, sending its shares up 12% in trading before the bell on Thursday.
The company said it expected the pace of its operating expenditure to slow to 40% in the first quarter from 70% in the previous three months as it works on its cost structure, while building on the platform’s monetization and engagement tools and partnerships.
