By most measures, it was a solid first quarter. The top and bottom lines improved year over year, and both rolled in above analysts' consensus estimates. The company expanded its active customer base, too, and collectively, those customers increased their usage of the product.

And yet, (NASDAQ: ROKU) shares are down to the tune of 8.6% as of 12:36 p.m. ET Friday, reflecting investors' frustration over the streaming technology company's revenue outlook and waning profitability.

For the first quarter, Roku turned revenue of $881.5 million into a  loss of $0.35 per share. Both of those were improvements on the year-ago period, when it booked $741.0 million in revenue and lost $1.38 per share. Analysts on average had been predicting sales of $848.6 million and a loss of $0.62 per share. The company also upped its active-user headcount to 81.6 million, and those users collectively watched 30.8 billion hours of streaming programming. These metrics were up 14% and 23% year over year, respectively.

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Source Fool.com