Roblox Corp (NYSE:RBLX) shares are trading lower Wednesday after the company reported worse-than-expected financial results.
Roblox said second-quarter revenue jumped 30% year-over-year to $591.2 million, which missed the estimate of $645 million, according to Benzinga Pro. The company reported a quarterly net loss of 30 cents per share, which missed the estimate for a loss of 21 cents per share.
Average daily active users totaled 52.2 million in the second quarter, up 21% year-over-year. Hours engaged reached 11.3 billion for the second quarter, up 16% year-over-year. Bookings totaled $639.9 million in the quarter, down 4% year-over-year.
“We remain focused on investing in strategic areas that we believe will drive platform growth and monetization,” said Michael Guthrie, CFO of Roblox.
July revenue is expected to be between $205 million and $208 million. July bookings are expected to be between $243 million and $247 million. Roblox said it had 58.5 million daily active users in July.
Related Link: Roblox Q2 Earnings: Sellers Out In Force After Revenue, EPS Miss, Lower Bookings
RBLX Price Action: Roblox has a 52-week high of $103.79 and a 52-week low of $21.65.
The stock was down 13.1% at $41.17 at press time, according to Benzinga Pro.
Photo: courtesy of Roblox.
