By Dean Seal

Shares of Roku advanced after the company said it has partnered with Shopify to let viewers buy from Shopify merchants directly through their televisions.

The stock is up 10% at $74.64 in early trading. Shares have climbed 83% so far this year but are still trading lower than they were 12 months ago.

Roku said before the bell that viewers using its streaming platform will be able to click on advertisements from Shopify merchants on their TVs to learn more about and purchase offered products.

Viewers can then check out using Roku's payments platform and return to their streaming activities once the purchase is complete, Roku said.

Along with point-of-sale access to Roku's audience, Shopify advertisers will receive more customer data and insights into purchasing trends, according to Roku.

Shopify shares rose 1.8% to $62.99 in early trading.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

July 11, 2023 10:54 ET (14:54 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
Shopify (TSX:SHOP)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Shopify Charts.
Shopify (TSX:SHOP)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Shopify Charts.