Popular world-building video game Roblox (RBLX, $47.27) reported results on Tuesday that missed analyst estimates on the top and bottom lines. It announced a second-quarter loss of $176.4 million, or 30 cents a share, compared with a loss of $140.1 million, or 25 cents a share, a year ago. While revenue rose 30% to $591.2 million from $454.1 million year on year, bookings (the revenue figure the company uses) fell 4% to $639.9 million from $665.5 million on year.
News of the downturn saw shares fall more than 12% in after-hours trading. Roblox reported 52.2 million average daily active users, about a million shy of the StreetAccount consensus. That figure is up from 21% a year earlier but down from the 54.1 million daily active users reported in the first quarter.
Why it matters
The company saw bookings swell more than 200% during the pandemic when kids were spending more time on their screens while stuck at home. Its market cap neared $80 billion before peaking in November 2021. Shares are down more than 60% since their highs.
