(Reuters) -Roku reported third-quarter revenue that was in line with Wall Street estimates, hurt by tough competition and reduced advertising spend from clients, sending shares down nearly 7% in trading after the bell.
While ad spending has been shifting from traditional television to streaming, advertisers have remained cautious with their budgets amid economic uncertainty, creating a challenging environment for platforms dependent on ad revenue.
Roku also saw a 5% fall in its devices revenue in the third quarter.
It reported third-quarter total revenue of $1.21 billion, up 14% from the year-ago period and in line with estimates, according to data compiled by LSEG.
(Reporting by Juby Babu in Mexico City; Editing by Alan Barona)
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