Roku drops 16% after losing expectations on the platform's revenue

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Roku's shares fell more than 16 percent on Thursday, despite exceeding third quarter earnings estimates. A key metric that fell below expectations was the platform's revenue, which includes streaming advertising.

FROM. Davidson and Co. gave Roku a neutral rating, on the other hand, as the increase in active accounts failed to estimate, but "was more than offset" by the increase in hours streaming and from ARPU that exceeded its expectations.

-CNBC Sara Salinas contributed to this report.

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