Streaming platform Roku to cut about 10% of its workforce

Roku shares gained 11% before the opening bell (Jenny Kane/AP)

Roku is cutting about 10% of its workforce, or 360 people, and it will limit new hiring as it cuts costs to stem a series of quarterly losses.

The streaming platform also said in a regulatory filing that it expects adjusted third-quarter revenue of between 835 million dollars and 875 million dollars, which is much better than the 828.6 million dollars that Wall Street was projecting, according to analysts polled by FactSet.