Management announced Q1 financials on May 10. Revenue increased 39% YOY to $537.1 million. Net loss came in at 27 cents per diluted share, down from 46 cents a year ago. Cash and equivalents ended the period at $3.13 billion.
The slowdown in user engagement resulted in a decline in quarter-to-quarter revenue. In April, average bookings per daily active user declined 25.5% YOY.
A decline in bookings typically leads to a slowdown in near-term revenue. Purchases of Robux, its in-game currency, are measured as bookings, which translate into revenue when players spend their Robux in its app.$Roblox Corporation(RBLX)$
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