Roku Forecasts Quarterly Revenue Above Estimates

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Roku, a streaming device manufacturer, forecast higher revenue for the fourth quarter than Wall Street expectations on Wednesday. The company expects to see more sales and ad revenues as global economic stability continues.

After the bell, shares of the company increased by 10%.

The streaming platform stated that it expects net revenues of $955 millions. LSEG data shows that analysts expected $952 million.

LSEG reports that total net revenue grew by 20% in the third quarter to $912 millions, comfortably exceeding analysts' consensus estimates of $855.2million.