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Roku (ROKU.O) raised its annual platform revenue forecast on Thursday, signaling confidence that advertisers will continue to spend on its streaming platform, sending its shares up 12% in extended trading.
Roku is benefiting from the rise of streaming media, as more households make connected TV (CTV) devices their primary viewing platform.
Adverisers are following suit, diverting their spending from traditional linear television toward streaming, as CTV offers more precise audience targeting and measurement.
The company now sees 2026 platform revenue growing 21% to $5 billion, compared with its prior projection of $4.89 billion.
