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Roblox bookings miss Wall St target as easing curbs hurt online games

Tiger Newspress2021-08-17

Roblox Corp's quarterly bookings missed market expectations on Monday, as easing restrictions slowed the pandemic-fueled surge in spending for its games including "Jailbreak" and "MeepCity", sending its shares down 4.7%.

The company, one of the world's most popular gaming sites for children, is a pandemic winner that had benefited from stay-at-home orders.

But with school reopening following the rollout of vaccines in the United States, online games lagged as kids are now encouraged to return to outdoor activities.

The company's bookings rose just 35% to $665.5 million for the second quarter ended June 30 compared to a 161% surge in bookings during the previous quarter. Analysts had expected $683.3 million.

Roblox generates most of its booking from the purchases of virtual currency "Robux" by kids, who then use it to upgrade player's avatars by buying in-game items like a hat, pet or accessories.

The company, which offers a host of titles across mobile devices and games consoles, said average bookings per daily active user increased slightly from the year-ago period.

The metric is the average amount that users pay per day to play the games and it had in the last quarter surged 46% from a year earlier.

In July, it fell 5% to 7% year-over-year, a clear sign of how people are spending less time on its platform.

The company, which listed on the NYSE in March, is reporting its second quarterly earnings and is yet to turn a profit.

"Roblox is suffering from the demands of very aggressive market expectations, combined with the prospect of continued unprofitability going forward," said John Patrick Lee, ETF product manager at VanEck.

Its net loss attributable to common stockholders widened to $140.13 million, or 25 cents per share, compared to $71.5 million, or 40 cents per share, a year earlier.

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Comment18

  • Sharon87
    ·2021-08-18
    Dip more so i can enter
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  • Solewalker
    ·2021-08-17
    ERs have been IV crush events
    Reply
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    • Solewalker
      Best to selL premIum
      2021-08-17
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  • JoHo
    ·2021-08-17
    Please like and comment. Thanks.
    Reply
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    • JoHo
      Done thanks!
      2021-08-19
      Reply
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    • Nez
      Done pla like and comment too
      2021-08-17
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    • Brsje
      Done
      2021-08-17
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  • QArmieeQ
    ·2021-08-17
    Still bullish
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  • 再等等吧
    ·2021-08-17
    [Observation] [Observation] 
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    • Wenikho
      Ok
      2021-08-17
      Reply
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  • SSVC
    ·2021-08-17
    Ok Appreciate your comments and response Thanks 
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    • Nez
      Pls like and comment too
      2021-08-17
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  • beankim
    ·2021-08-17
    I am looking at a deep drop for roblox and abnb and will enter
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    • Sharon87
      Same here
      2021-08-18
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    • koolgal
      Thanks for the tip. ??
      2021-08-17
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  • 玉树临风英俊
    ·2021-08-17
    Reply
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    • Wenikho
      Ok
      2021-08-17
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  • Aza
    ·2021-08-17
    [Surprised] 
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    • koolgal
      ??
      2021-09-15
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    • Wenikho
      Ok
      2021-08-17
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  • Chaishen
    ·2021-08-17
    Is earning less than expectations but not in the loss take note of the difference 
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  • kctan
    ·2021-08-17
    Comment and like please
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  • AL52
    ·2021-08-17
    Yikes. Maybe look long term?
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  • YeanPin
    ·2021-08-17
    Hmm
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    • YeanPinReplying toYeanPin
      ?? ..when Stock go up we ,will Be greedy and greedy ..only when other are fearful we will be fearful too . Just relax ???.. Happy day ☀️???
      2021-09-07
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    • Singman
      ok
      2021-08-17
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    • YeanPin
      Thx
      2021-08-20
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  • KHW
    ·2021-08-17
    Hmm
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  • Ernfei
    ·2021-08-17
    Gg liao
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    • Ernfei
      WaIt long long again
      2021-08-17
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  • 股惑仔79
    ·2021-08-17
    [Shy] 
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  • stingray102
    ·2021-08-17
    Ok
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  • JcJc
    ·2021-08-17
    Hold back ?
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