Why Roblox Stock Crashed Today
Shares of Roblox (NYSE: RBLX) plunged 26% on Wednesday after the game development company reported disappointing fourth-quarter results.
Roblox's revenue soared 83% year over year to $568.8 million. The gains were fueled in part by a 33% increase in average daily active users (DAUs) to 49.5 million, and a 28% increase in hours engaged, to 10.8 billion.
Still, growth in the video game platform's bookings, which equates to the amount of virtual currency users bought during the quarter, continued to decelerate. Bookings rose 20%, compared to 28% in the third quarter and 35% in the second quarter.
Source Fool.com
