Roblox Says Near-Term Pressure is Worth It

Dow Jones07:16

1916 ET - Roblox says that while changes it's making to its platform are creating near-term pressure, its the right strategy to boost retention over the long term. The company expects revenue growth to slow and bookings to decline in the current quarter, and also withheld its full-year outlook, switching to only quarterly guidance earlier than scheduled. "While our expectations for the remainder of the year have changed significantly, we have conviction that we're making the right tradeoffs to continue our role as an industry disruptor," CFO Naveen Chopra says during a call with analysts. Chopra says the company continues to see its investments in AI, long-term retention and safety helping it maximize its share in the gaming market, despite the weakness in the near term.

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