Roku beat Wall Street estimates for quarterly revenue and forecast second-quarter sales above estimates on Thursday, buoyed by strong ad sales and the ongoing shift to streaming from cable TV . Shares of the company were flitting between gains and losses in volatile trading after the bell.

(Reuters) - Roku beat Wall Street estimates for quarterly revenue on Thursday, as it benefited from strong ad sales and the ongoing shift from cable TV to streaming platforms. The company posted net revenue of about $882 million in the first quarter, compared with analysts' average estimate of $848.6 million, according to LSEG data.

Microsoft beat Wall Street estimates for third-quarter revenue on Thursday, driven by gains from AI adoption across its cloud services and business software products. Revenue rose 17% to $61.9

Roku, the company behind the popular line of streaming devices and smart TVs, has released its earnings report for the first quarter of 2024. It’s a miss on both revenue and earnings-per-share, though the EPS losses were smaller than expected.

Roku stock (NASDAQ:ROKU) rose 1% in early after-hours action after it posted a much better loss than expected on revenues that also surpassed expectations in its first-quarter earnings report. Revenues jumped 19% to $881.