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Roblox shares closed down 26% after earnings miss

admin by admin
February 16, 2022
in Business
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Roblox shares closed down 26% after earnings miss
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Shares of Roblox fell more than 26% on Wednesday after reporting gains that did not live up to expectations.

The gaming company reported fourth-quarter revenue of $ 770 million, below the expected $ 772 million, according to Refinitiv’s consensus estimates. Its loss of 25 cents per share was greater than the expected 13 cents and it reported 49.5 million active users per day in the quarter, which is 33% more than the previous period.

Roblox is an open gaming platform that allows players to create their own interactive “worlds”. The first large company working on the metaverse to go public, it sold virtual currency, which was used to buy digital items in its games. He has recently partnered with companies such as Nike and the NFL.

“We have so many opportunities to increase the monetization of our platform,” said Roblox CEO David Bazooka at CNBC’s Squawk on the Street in response to the loss of profits. “We don’t touch the ads, we don’t touch the 3D immersive shopping. We are very gentle about monetizing in terms of quality consumer growth, creating a safe and civic platform and boosting our DAU numbers. So we are focused on consumers and growing engagement. “

Analysts were concerned about delays in reservations and prospects.

“Our key conclusion from the 4th quarter update of Roblox … Reservations for January 22 slowed compared to recent months, increasing by only 2% -3% on an annual basis compared to October, November, December 21 at + 15%, + 23% and + 21%, for example, “analysts at Stifel said in a note on Tuesday night.

“In addition, the company said that reservation computers on an annual basis” need to be improved from May to June, “leaving us to consider what this implies for February-April. Why the expected delay?

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Tags: business newsGaming softwareGoldman Sachs BDC Inc.Goldman Sachs Group Inc.InternetMarketsMorgan StanleyNike Inc.Roblox Corp.Social mediatechnology
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