On Wednesday, shares of Roblox declined following the release of their Q2 results that did not meet the expectations of analysts. The average daily active user count was 65.5 million, a 25% increase from last year. Roblox also reported a loss of $282.8 million during the period ending June 30, compared to the loss of $176.4 million from the same period last year.
Roblox experienced a 20% plunge in their shares Wednesday after their second-quarter results failed to reach analysts' expectations in terms of both top and bottom lines. The revenue figure, which Roblox refers to as "bookings," was $781 million, lagging behind the anticipated $785 million. This number comprises of both sales and deferred revenue. Year-on-year, the bookings had risen by 22%, as compared to the $639.9 million reported for the same quarter in 2022. Most of the company's revenue is derived from sales of their virtual currency Robux, which players use to buy in-game features and customize their avatars.
Roblox reported 65.5 million average daily active users, up 25% year over year, who collectively spent 14 billion hours engaged in Roblox activities in the second quarter, marking a 24% growth. The company is attempting to widen their user base across all age groups by approving mature content like violence, romance and crude humor for users aged 17 and above.
In a letter to shareholders, Roblox stated that they had observed growth in daily active users across all age groups and regions. CEO David Baszucki further commented that the age cohorts aged 17 to 24 and 25 and above had "consistently higher bookings per hour" than other age groups. The overall net loss of the quarter was $282.8 million, greater than the net loss of $176.4 million for the same period last year, due to a high level of expenditure required for business expansion such as corporate overhead, developer exchange fees, infrastructure and personnel costs.
Roblox anticipates continuing to report losses for the foreseeable future and is operating on "build once, run everywhere" philosophy. To this outcome, Baszucki recently posted on X that the company had seen more than one million downloads via Meta's virtual reality headsets just five days after the launch of beta version. The average bookings per daily active user was reported to be $11.92, representing a drop of 3% year over year.
Comentarios