Stock Market News
Roblox Slumps After Wider Than Expected Loss in Q2
2022.08.09 23:41
By Yasin Ebrahim
Investing.com — Roblox fell sharply in afterhours Tuesday after reporting a wider-than-expected loss in the second quarter as a weaker economic backdrop forced consumers to rein in spending on video games.
Roblox (NYSE:RBLX) was down 13% in afterhours trading.
Roblox delivered a Q2 loss of 30 cents a share on revenue of $640.0 million. That compared with Wall Street estimates for a loss of 25 cents on revenue of $639.2 million.
Bookings decreased 4% to $639.9 million.
Daily active users rose 21% in second quarter year-on-year to 52.2 million and the number of hours that players spend on the app rising 16%, to 11.30 billion.
