Shares of Roku Inc. (ROKU) were falling 18.6% to $47.98 in trading on Thursday, Nov. 8, despite stronger-than-expected top- and bottom-line results for the third quarter from the streaming video platform. 

Roku reported losing 9 cents per share in the quarter on revenue of $173.4 million. Analysts expected the company to report a quarterly loss of 12 cents per share on revenue of $169.08 million. 

Roku said it expects to generate between $255 million and $265 million in revenue in the current quarter, vs. analysts' estimates of $258.3 million expectations. But for fourth-quarter earnings, Roku said it expects to earn in a range from a loss of $4 million to a profit of $3 million, versus analyst estimates of a profit of $7 million, according to FactSet.

Roku reported 23.8 million active accounts in the quarter, a 43% year-over-year increase, as it faces increased competition from tech rivals such as Alphabet Inc.'s (GOOGL) Chromecast, Apple Inc.'s (AAPL) Apple TV and Amazon.com Inc.'s (AMZN) Fire TV. 

Roku made it a point to significantly upgrade the attractiveness of its advertising platform by launching Audience Marketplace earlier this year. The company believes it offers advertisers a unique set of data powered by cable cord cutters. 

For the quarter, platform revenue rose 74% year over year to $100.1 million while the average revenue generated per user rose 37% to $17.34. 

Apple, Amazon and Alphabet are holdings in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells AMZN, AAPL or GOOGL? Learn more now.

More from Earnings

Resideo Rises on Solid Quarterly Results, Reaffirms Guidance

Resideo Rises on Solid Quarterly Results, Reaffirms Guidance

Did You Get That Voicemail? What You Need to Know About Cisco

Did You Get That Voicemail? What You Need to Know About Cisco

Chart of the Day: Midterm Results Offer Hope to Cannabis Names Looking at U.S

Chart of the Day: Midterm Results Offer Hope to Cannabis Names Looking at U.S

Why Jim Cramer Is Waiting Ahead of Nvidia's Earnings

Why Jim Cramer Is Waiting Ahead of Nvidia's Earnings

What a Strong Dollar Means for the Market - Jim Cramer Breaks It Down

What a Strong Dollar Means for the Market - Jim Cramer Breaks It Down