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Roblox shares tumble over 10% on weak bookings outlook, user miss
['Louis Juricic', 'Min Read']
Yahoo Finance - Business Finance, Stock Market, Quotes, News
Investing.com -- Roblox Corp. (NYSE:RBLX) reported second quarter results that missed analyst expectations on key metrics, with shares falling 11.5% as the company issued third quarter bookings guidance well below Wall Street estimates.
Bookings came in at $1.56 billion, below the $1.6 billion estimate, while revenue of $1.47 billion exceeded expectations of $1.42 billion, up 36% YoY.
Hours engaged totaled 29 billion, falling short of the 30.86 billion estimate.
For the third quarter, Roblox issued bookings guidance of $1.58 billion to $1.65 billion, with a midpoint of $1.615 billion significantly below the analyst consensus of $1.87 billion.
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