Roblox Shares Slid 3% in Premarket Trading

Tiger Newspress2022-05-11

Roblox Shares Slid 3% in Premarket Trading.

Roblox missed estimates for quarterly bookings, as demand for its online games waned with kids returning to school.

Easing of restrictions and a reopening economy has affected bookings for pandemic winner Roblox, one of the world's most popular gaming sites for children, as kids now spend more time outdoors.

The San Mateo, California-based company posted a 3% fall in first-quarter bookings to $631.2 million. Analysts had expected $644.8 million, according to IBES data from Refinitiv.

The company generates most of its money from virtual currency "Robux", which players can purchase to spend in-game on upgrading avatars with items like outfits, accessories and pets.

Net loss attributable to common stockholders widened to $160.2 million, from $134.2 million a year earlier.

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Comments

Bspn
2022-05-11
Bspn
Ok
Henryee18
2022-05-11
Henryee18
Gg
GggSlimeR
2022-05-11
GggSlimeR
Oh my... buy?
cjgoh
2022-05-11
cjgoh
Zz z as

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