Is Roblox Stock a Buy Now?
Roblox's (NYSE: RBLX) stock price plunged 17% during after-hours trading on Aug. 9 following its second-quarter earnings report. The gaming platform company's revenue grew 30% year over year to $591 million, but its bookings -- which gauge direct purchases of its in-game currency Robux -- fell 4% to $640 million and missed analysts' estimates by $14 million.
That marked Roblox's slowest revenue growth since its direct listing last March and its second consecutive quarter of declining bookings. To make matters worse, its net loss widened year over year from $140 million to $176 million, or $0.30 per share, which missed the consensus forecast by $0.05. Its adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) also plunged 70% to $55 million.
Image source: Roblox.
Source Fool.com
