Roblox Corp RBLX shares are trading lower by 6.12% at $21.77 after the company reported worse-than-expected first-quarter EPS and sales results.
Roblox reported quarterly losses of 27 cents per share which missed the analyst consensus estimate of a loss of 22 cents by 22.73 percent. The company reported quarterly sales of $537.10 million which missed the analyst consensus estimate of $639.46 million by 16%. This sales figure represents a 39% increase over sales of $386.98 million in the same period last year.
Roblox estimates DAUs for April were 53.1 million, which was up 23% year-over-year. Roblox also estimates hours engaged for April were 3.8 billion, up 18% year-over-year.
"We remained focused on delivering our innovation roadmap to unlock the full potential of the Roblox platform and drive long-term returns for investors," said David Baszucki, chief executive officer of Roblox.
"Over the past two quarters, we have launched a number of notable innovations including spatial voice and layered clothing that will continue driving user growth, engagement and monetization."
Roblox operates an online video game platform that lets young gamers create, develop and monetize games.
According to data from Benzinga Pro, Roblox has a 52-week high of $141.65 and a 52-week low of $20.83.
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