Roblox shares slide after company reports decline in users and their spending

  • 📰 CNBC
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 72%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Roblox shares fell as much as 7% in after-hours trading Tuesday after the company reported a decline in users and their spending on the gaming platform in May.

The company said daily active users for May were 43 million, down 1% from the 43.3 million DAUs it reported for April. Still, DAUs were up 28% from May 2020. Roblox said average bookings per DAU are estimated to be between $5.02 and $5.09, which would be down as much as 3% from a year ago.

The company said its users spent 3.2 billion hours in the game in May and revenue is estimated to be between $149 million and $151 million. Roblox's business relies on players buying digital items in the game, which is free to download and start playing. It's available on multiple platforms, including iPhones and Android devices, and is most popular with children and teenagers.VIDEO

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

good

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines