(Reuters) -Roku on Thursday forecast first-quarter revenue above Wall Street estimates on optimism that increased cord-cutting and a broader shift to ad-based streaming will boost the streaming platform’s business.
Its average revenue per user (ARPU) slipped 4% to $39.92 in the fourth quarter, sending its shares down 13.6% in extended trading.
The streaming platform expects first-quarter net revenue of $850 million, compared with analysts’ estimates of $834.1 million, according to LSEG data.
(Reporting by Samrhitha Arunasalam and Kannaki Deka in Bengaluru; Editing by Alan Barona and Shinjini Ganguli)
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