Gaming company Roblox Corporation RBLX reported second-quarter financial results after market close Tuesday. Here are the key highlights.
What Happened: Roblox reported second-quarter revenue of $591.2 million, up 30% year-over-year. The revenue came in shy of a Street estimate of $645 million for the quarter, according to data from Benzinga Pro.
The company reported a loss of 30 cents per share in the quarter, missing a consensus estimate from analysts of a loss of 21 cents per share.
Bookings in the second quarter of $639.9 million were down 4% year-over-year.
The company had 52.2 million daily active users in the second quarter, up 21% year-over-year. Hours engaged were 11.3 billion in the second quarter, up 16% year-over-year.
Average bookings per DAU was $12.25 in the second quarter, down 21% year-over-year.
“We are driving record levels of users and engagement globally as we execute on our innovation roadmap and broaden the appeal of Roblox across geographies and age groups,” Roblox CEO David Baszucki said.
What’s Next: The company said revenue for the month of July is expected in a range of $205 million to $208 million, up 25% to 27% year-over-year. July bookings were between $243 million and $247 million, up 8% to 10% year-over-year.
July saw hours engaged of 4.7 billion, up 25% year-over-year. Average bookings per DAU were between $4.15 and $4.22 in July, down 12% to 14%.
July saw daily active users of 58.5 million, up 26% year-over-year.
“We remain focused on investing in strategic areas that we believe will drive platform growth and monetization,” Roblox CFO Michael Guthrie said. “We continue to make progress on key operational and product initiatives to enhance the long-term value of the Roblox platform.”
RBLX Price Action: Roblox shares were down 13.03% to $41.18 in after-hours trading Tuesday.
Photo courtesy of Roblox.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.