Roblox Corp (RBLX)

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Roblox stock tanks after disappointing November billings numbers
By: Morningstar | December 15, 2022

Roblox Corp. shares were falling more than 14% in Thursday morning trading after the gaming company posted November bookings metrics that seemed lower than what some analysts were expecting. The company said in a press release that it saw estimated bookings of $222 million to $225 million during the month of November, up 5% to 7% from a year before. Jefferies analyst Andrew Uerkwitz wrote prior to the release that he was modeling $237 million in net bookings, a number he thought was in line with buy-side expectations. Wedbush analyst Nick McCay had written that last year's curve would have implied expectations for $226.5 million in net bookings this November. Roblox noted in its release that bookings were impacted by about 4 to 5 percentage points in foreign-exchange headwinds. The company also reported 56.7 million daily active users for the month, along with 39 billion hours of engagement. Estimated average bookings per daily user were between $3.92 and $3.97, down 7% to 9% from a year prior.

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