(Reuters) -Roku ( ROKU ) beat Wall Street estimates for second-quarter revenue on Thursday, benefiting from strong ad sales and the ongoing shift from cable TV to streaming platforms.

Shares of the firm rose 5.4% in trading after the bell.

The company, which makes streaming devices and owns a complimentary, ad-supported channel, has experienced a surge in viewership as industry titans such as Netflix ( NFLX ) raise subscription fees and high interest rates squeeze consumer wallets.

The ongoing migration from traditional cable packages to subscription-based streaming services has also helped the company, alongside the burgeoning popularity of third-party streaming channels such as Peacock, Disney+, and HBO Max, all accessible through Roku's ( ROKU ) platform.

The company posted net revenue of $968.2 million for the second quarter, compared with analysts' average estimate of $937.9 million, according to LSEG data.

(Reporting by Akash Sriram and Harshita Mary Varghese in Bengaluru; Editing by Devika Syamnath)