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Wednesday, May 10, 2023 10:08:26 AM
Roblox (RBLX) Reports wider-than-expected loss in Q1, shares recover after initial slide
By: Investing.com | May 10, 2023
Roblox (NYSE:RBLX) shares plunged premarket after reporting a worse-than-expected loss per share in the first quarter.
The online game platform reported a loss per share of $0.44 in the first quarter, $0.09 worse than the analyst estimate of a $0.35 loss per share. Meanwhile, bookings for the quarter rose 23% YoY, coming in at $773.8 million versus the consensus estimate of $768.02M.
Roblox added that its average daily users increased 22% to 66.1M, while hours engaged were 14.5 billion, up 23% YoY. Average bookings per DAU (“ABPDAU”) was $11.70, flat compared to the same period last year.
Roblox shares dropped around 12% in the immediate aftermath. However, the stock is currently up over 1% premarket.
“In Q1 2023, we delivered strong performance across our core operating and financial metrics,” said Michael Guthrie, chief financial officer of Roblox.
“Now that we are generating high rates of year-over-year bookings growth, we can now moderate our rate of investment in headcount and infrastructure, thereby generating operating leverage. We also expect to see more of our bookings processed through credit cards and prepaid cards, which will also have a positive impact on margins.”
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By: Investing.com | May 10, 2023
Roblox (NYSE:RBLX) shares plunged premarket after reporting a worse-than-expected loss per share in the first quarter.
The online game platform reported a loss per share of $0.44 in the first quarter, $0.09 worse than the analyst estimate of a $0.35 loss per share. Meanwhile, bookings for the quarter rose 23% YoY, coming in at $773.8 million versus the consensus estimate of $768.02M.
Roblox added that its average daily users increased 22% to 66.1M, while hours engaged were 14.5 billion, up 23% YoY. Average bookings per DAU (“ABPDAU”) was $11.70, flat compared to the same period last year.
Roblox shares dropped around 12% in the immediate aftermath. However, the stock is currently up over 1% premarket.
“In Q1 2023, we delivered strong performance across our core operating and financial metrics,” said Michael Guthrie, chief financial officer of Roblox.
“Now that we are generating high rates of year-over-year bookings growth, we can now moderate our rate of investment in headcount and infrastructure, thereby generating operating leverage. We also expect to see more of our bookings processed through credit cards and prepaid cards, which will also have a positive impact on margins.”
Read Full Story »»»
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