Roblox Stock Hammered On Revenue Dip
Gaming stock $Roblox Corporation(RBLX)$ was given a caning. It ended off session lows but still fell around 12%.
The company's March metrics report showed the firm expects average bookings per daily user to fall year over year. This is a key revenue metric for the firm.
It said estimated average bookings per daily active user for that month were between $3.73 and $3.85, a range that indicates a year-over-year drop of 2% to a gain of 1%.
Estimated average bookings per daily active user in March would have fallen between 1% and 3% on a constant-currency basis.
RBLX stock gapped down through the 50-day line, a key support level. It is holding above the 200-day moving average for now.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
