Roblox Quarterly Bookings Miss Estimates

Reuters2022-05-11

May 10 (Reuters) - Roblox Corp missed estimates for quarterly bookings on Tuesday, as demand for its online games waned with kids returning to school after pandemic curbs ease.

Roblox shares fell 4.6% in extended trading Tuesday.

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

  • Jess261
    2022-05-11
    Jess261
    Okay
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    2022-05-11
    PYM1831
    Expected
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    2022-05-11
    ZenInv
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    2022-05-11
    JaneJane
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    2022-05-11
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    2022-05-11
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