Roblox Corp (NYSE:RBLX) is trading lower Wednesday morning after the social gaming company announced worse-than-expected earnings results.
Roblox reported a quarterly earnings loss of 25 cents per share, which came in below the estimate for a loss of 14 cents per share. The company reported quarterly revenue of $568.8 million, which was up 82% from the fourth quarter of 2020.
Bookings totaled $770.1 million, which beat the $763.29 million estimate and was up 20% from the fourth quarter of 2020.
Daily active users were up 33% year-over-year to 49.5 million in the fourth quarter, while hours engaged totaled 10.8 billion hours, a 28% increase year-over-year.
Related Link: Roblox Q4 Earnings Highlights: Record Full Year Revenue, DAUs And More
"As we look ahead to 2022, we will continue to develop our technology to enable deeper forms of communication, immersion and expression on our platform," said David Baszucki, CEO of Roblox.
Roblox said revenue was between $203 million and $206 million for the month of January, an increase of 64% to 66% year-over-year. Daily active users totaled $54.7 million in January, up 32% year-over-year.
Roblox operates an online video game platform that lets young gamers create, develop and monetize games or "experiences" for other players.
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RBLX Price Action: Roblox has traded as low as $53.63 and as high as $141.59 over a 52-week period.
The gaming company's stock was down 16.8% at $61.03 at time of publication.
Photo: courtesy of Roblox.
