(Reuters) -Roku on Wednesday beat Wall Street estimates for third-quarter revenue, driven by higher advertising sales on its platform.
Cost-conscious customers are turning to Roku which makes streaming devices and owns a complimentary, ad-supported channel.
The company is benefiting as ad dollars shift from linear TV to digital connected TV and strong advertising demand ahead of the U.S. Presidential election in November.
The company reported revenue of $1.06 billion, compared with analysts’ average estimates of $1.02 billion, according to data compiled by LSEG.
Its platform revenue, the biggest contributor to income, grew about 15% to $908 million in the third quarter.
(Reporting by Priyanka.G in Bengaluru; Editing by Shailesh Kuber)