Online gaming platform Roblox missed estimates for second-quarter bookings on Wednesday as waning demand for its online games and intensifying competition hurt growth, sending its shares down nearly 20%.
The videogame industry is struggling with a slowdown in spending as inflation-weary gamers become more selective in picking popular titles. Roblox, which operates a metaverse – an emerging virtual space where people play games and make transactions – reported 65.5 million daily active users in the quarter, with a long-term goal of reaching 1 billion daily users.
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Roblox shares drop after company misses estimates on top and bottom lineRoblox reported its second-quarter results that missed analysts' expectations on top and bottom lines. The company reported a loss per share of 46 cents, compared to the expected 45 cents loss per share. Additionally, the revenue (bookings) was $781 million, falling short of the expected $785 million.
Source: CNBC - 🏆 12. / 72 Read more »
Roblox Shares Drop After Videogame Platform Misses ExpectationsRoblox shares plummeted more than 20% Wednesday morning after the videogame company reported earnings below analysts’ expectations
Source: WSJ - 🏆 98. / 63 Read more »
Roblox's stock falls as losses expand, bookings come up shortRoblox Corp. shares were falling nearly 8% in Wednesday's premarket trading after the gaming company fell short of bookings expectations for the second quarter and saw its losses swell. The company logged a net loss of $283 million, or 46 cents a share, compared with a loss of $176 million, or 30 cents a share, in the year-prior period.
Source: MarketWatch - 🏆 3. / 97 Read more »