12:26 PM EDT, 10/31/2024 (MT Newswires) -- (Updates with latest stock movement in the headline and first paragraph.)

Roku ( ROKU ) shares fell nearly 22% in midday trading Thursday, a day after reporting Q3 results.

The company reported a Q3 loss late Wednesday of $0.06 per diluted share, narrower than the $2.33 loss per share a year earlier.

Analysts polled by Capital IQ expected a loss of $0.33.

Revenue for the quarter was $1.06 billion, up from $912 million a year earlier.

Analysts polled by Capital IQ expected $1.02 billion.

The company expects Q4 revenue of $1.14 billion and adjusted earnings before interest, taxes, depreciation and amortization of $30 million. Analysts surveyed by Capital IQ are expecting revenue of $1.15 billion.

Price: 60.95, Change: -16.56, Percent Change: -21.36