Why Roblox Stock Fell 20% This Week
Shares of Roblox (NYSE: RBLX) are down 20.4% this week, according to data provided by S&P Global Market Intelligence, after the video game developer announced disappointing quarterly results relative to expectations.
To be sure, shares fell more than 23% on Wednesday alone after Roblox announced its second-quarter revenue rose 15% year over year, to $680.8 million, while bookings -- a key metric to help gauge future revenue growth -- grew 22% to $780.8 million. On the bottom line, that translated to a net loss of $282.8 million, or $0.46 per share. Analysts, on average, were expecting a narrower net loss of $0.44 per share, with higher bookings of $785 million.
Digging deeper into Roblox's results, average daily active users (DAUs) grew 25% year over year to 65.5 million, while average monthly unique payers were up 19% year over year to 13.5 million. Those players were collectively engaged for an incredible 14 billion hours -- up 24% from the same year-ago period. However, average bookings per DAU and monthly unique payer each declined 3% year over year to $11.92 and $19.32, respectively.
Source Fool.com
