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Roblox shares drop -20% after $RBLX misses estimates on top and bottom line
Roblox reported 65.5 million average daily active users, up 25% from a year earlier.
Had a net loss of $282.8 million for the quarter, (which ended June 30). Roblox reported a net loss of $176.4 million for the same period in 2022.
- Loss per share: 46 cents loss vs. 45 cents loss per share expected, according to a Refinitiv survey of analysts.
- Revenue (bookings): $781 million vs. $785 million expected, according to Refinitiv.
The revenue figure is what Roblox calls bookings, a category that includes sales recognized during the quarter and deferred revenue. Bookings rose by 22% year over year.
Roblox reported $639.9 million in bookings in the year-ago quarter. The company generates revenue from sales of its virtual currency called Robux, which players use to dress up their avatars and buy other premium in-game features.
User growth impressive. This is one of those rare companies where I don't want them to overly focus on net income just yet, push for growth especially capturing a bigger and bigger user base.
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