Roblox Earnings Reveal Sales Miss. Why the Stock Is Jumping.

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 97%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

A smaller-than-expected loss trumped a sales miss.

Roblox stock spiked on Wednesday after the videogame platform posted a smaller-than-expected loss and strong bookings.The online gaming company posted a net loss of 45 cents a share for the third quarter ended September. Analysts tracked by FactSet had penciled in 49-cent in loss. Revenue was $713 million, up 38% from a year ago, but lower than analysts forecast of $825 million.

That said, bookings, a key metric for the company that essentially measures sales of the virtual currency on its platform, was $839.5 million, up 20% from a year ago. “Bookings growth was particularly strong in Western Europe and East Asia. The U.S. and Canada still accounted for the majority of bookings growth in dollar terms among all regions,” said Michael Guthrie, chief financial officer of Roblox

 

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

 /  🏆 3. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Earnings-season winners: 20 companies that have grown sales while improving profit marginsThese earnings-season winners not only increase sales, they show pricing power for their products and services
Source: MarketWatch - 🏆 3. / 97 Read more »

Cava Scores on Earnings as Same-Restaurant Sales SurgeThe Mediterranean takeout restaurant chain said revenue jumped almost 50% from the same period last year.
Source: MarketWatch - 🏆 3. / 97 Read more »