(NASDAQ: ROKU) recently reported its financial results for the third quarter (ended Sept. 30), during which the business posted revenue of $912 million, up 20% year over year. This key number crushed Wall Street expectations, helping explain why the stock has soared almost 40% since the announcement.

Even so, shares of Roku are still down 83% from their all-time high in July 2021 -- and that's after doubling this year. Don't let that scare you away, though. Here's why investors should still think about buying this growth stock.

Management pointed to "strong performance in content distribution and video advertising, along with unit sales of Roku-branded TVs" as the primary reasons for the strong quarterly top-line growth. This was very encouraging for shareholders as the company's revenue gain represented a marked acceleration from the previous few quarters.

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Source Fool.com