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Roku forecasts quarterly revenue above estimates
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(Reuters) — Roku (NASDAQ:ROKU) forecast fourth-quarter revenue above Wall Street estimates on Wednesday, anticipating higher sales of its streaming devices and ad collections on signs of stability in the global economy.
Shares of the company rose 10% in trading after the bell.
The streaming platform said it expected net revenue of $955 million. Analysts were expecting $952 million, according to LSEG data.
Total net revenue grew 20% to $912 million in the quarter ended September 30, comfortably beating analysts' consensus estimate of $855.2 million, according to LSEG.
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