© Reuters Roblox (RBLX) stock drops 7% as Q2 results trail analyst estimates
Roblox (NYSE:) shares fell more than 7% in pre-market trading after the company reported second quarter results.
Roblox a loss per share of 46 cents, worse than the expectations for a loss per share of 44c. Bookings for the quarter came in at $780.7M, slightly weaker than the consensus estimate of $785.4M.
Revenue came in at $680.8M, a 15% increase from the previous year. The platform saw a 25% increase in Average Daily Active Users (DAUs) to 65.5M.
“We continue to drive high rates of organic growth in DAUs, Hours, and Bookings. We are growing among users of all ages and across all geographies. We remain focused on extending our product leadership to drive value for creators and brands, and even more innovative and immersive avatars and experiences for our users,” said David Baszucki, founder and CEO of Roblox.
Additionally, there was a 19% increase in average monthly unique payers to 13.5M. Hours engaged on the platform rose by 24% to 14.0 billion.
Read the full article here
