Why Roblox Stock Was Down Wednesday
Shares of Roblox (NYSE: RBLX) were down 19.5% as of 10:17 a.m. ET on Wednesday after the gaming platform reported second-quarter earnings results that were below expectations.
Revenue was up 15% year over year to $680.8 million. However, the more closely watched metric is bookings, a non-GAAP (adjusted) measure of revenue, which came in at $780.7 million, slightly missing estimates that called for $784.9 million.
The stock had been up over 50% year to date earlier this year but most of those gains have been erased in recent weeks.
Source Fool.com
