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2023-03-12

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Roku Slips As It Discloses 26% of Cash Was Held at Failed Silicon Valley Bank

Roku stock turned 3% lower after hours after the company stated that it held about 26% of its cash a

Roku Slips As It Discloses 26% of Cash Was Held at Failed Silicon Valley Bank

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Roku said.</p><p>The FDIC was appointed as receiver for SVB, and as for uninsured depositors like Roku, they&#39;re expected to get an advance dividend within the next week, the company said, with the prospect of future dividends.</p><p>Despite the bank&#39;s closure, Roku &#34;continues to believe that its existing cash and cash equivalents balance and cash flow from operations will be sufficient to meet its working capital, capital expenditures, and material cash requirements from known contractual obligations&#34; for the next year and beyond.</p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Roku Slips As It Discloses 26% of Cash Was Held at Failed Silicon Valley Bank</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nRoku Slips As It Discloses 26% of Cash Was Held at Failed Silicon Valley Bank\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-03-11 11:10 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3946619-roku-slips-as-it-discloses-26-of-cash-was-held-at-failed-silicon-valley-bank><strong>Seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Roku stock turned 3% lower after hours after the company stated that it held about 26% of its cash and equivalents at Silicon Valley Bank, which failed Friday and was closed down by California.Roku ...</p>\n\n<a href=\"https://seekingalpha.com/news/3946619-roku-slips-as-it-discloses-26-of-cash-was-held-at-failed-silicon-valley-bank\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ROKU":"Roku Inc"},"source_url":"https://seekingalpha.com/news/3946619-roku-slips-as-it-discloses-26-of-cash-was-held-at-failed-silicon-valley-bank","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2318756317","content_text":"Roku stock turned 3% lower after hours after the company stated that it held about 26% of its cash and equivalents at Silicon Valley Bank, which failed Friday and was closed down by California.Roku has total cash and equivalents of $1.9B, of which $487M was held at SVB - deposits that are \"largely uninsured.\"\"At this time, the Company does not know to what extent the Company will be able to recover its cash on deposit at SVB,\" Roku said.The FDIC was appointed as receiver for SVB, and as for uninsured depositors like Roku, they're expected to get an advance dividend within the next week, the company said, with the prospect of future dividends.Despite the bank's closure, Roku \"continues to believe that its existing cash and cash equivalents balance and cash flow from operations will be sufficient to meet its working capital, capital expenditures, and material cash requirements from known contractual obligations\" for the next year and beyond.","news_type":1},"isVote":1,"tweetType":1,"viewCount":805,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}