Roblox is still flavour of the month with artists and labels, but investors are spooked a little by its latest financial results.
The company’s Q2 2022 revenues were up 30% year-on-year to $591.2m, while its average daily active users grew by 21% to 52.2m, which is all good. However, its bookings – a specific games-industry metric covering the money spent by users in a quarter on virtual currency, which is booked as revenue later when they spend it in-game – fell by 4% to $639.9m.
Meanwhile, Roblox’s figures fell short of analysts’ estimates for the quarter, which led to the company’s share price falling by 12% in extended trading last night.
As Bloomberg pointed out, Roblox’s share price has dropped by 65% since last November. The company was worth just under $78bn then, but its market cap at the time of writing is $28.98bn.
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