Roku shares skyrocket over 50% as sales crush Wall Street estimates

Roku shares jumped more than 50 percent on Thursday after the company posted a narrower-than-expected loss.

In its first quarterly report since its initial public offering, the streaming technology company reported an adjusted earnings loss of 10 cents per share. Analysts expected a loss of $1.37 per share. Revenue was $124.8 million, ahead of forecasts of $110.5 million.

"Our business really is about building active accounts," CEO Anthony Wood told CNBC's "Squawk on the Street" Thursday. "For us, selling players is just a great way to build up active accounts and we optimize that business around volume of players."

Roku pointed to a 48 percent increase in active accounts from a year earlier.

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