Roku Inc. shares slumped 15% in after-hours trading Wednesday after it reported a third-quarter loss more than double that of a year ago.
Revenue did jump 50% to $260.9 million, from $173.4 million a year ago.
Analysts polled by FactSet had expected Roku to report a GAAP loss of 28 cents a share on sales of $257 million.
Roku makes streaming dongles and owns a streaming platform and channel. It went public in 2017 and its stock has been one of the hottest of the year, up 360% in 2019. That compares with gains around 23% and 18% for the S&P 500 index SPX, +0.07% and the Dow Jones Industrial DJIA, +0.00% , respectively, in the same period.
The company was under some strain, however, from increased competition, including Apple Inc.’s AAPL, +0.04% recently launched Apple TV+.