Roblox bookings miss Wall Street target as easing curbs hurt online games
A man photographs a Roblox banner displayed, to celebrate the company's IPO, on the front facade of the New York Stock Exchange (NYSE) in New York, U.S., March 10, 2021. REUTERS/Brendan McDermid/Files
Roblox Corp's quarterly bookings missed market expectations on Monday, as easing restrictions slowed the pandemic-fueled surge in spending for its games including "Jailbreak" and "MeepCity", sending its shares down 3per cent.
The company, one of the world's most popular gaming sites for children, is a pandemic winner that had benefited from stay-at-home orders.
But with school reopening following the rollout of vaccines in the United States, online games lagged as kids are now encouraged to return to outdoor activities.
The company's bookings rose 35per cent to US$665.5 million for the second quarter ended June 30. Analysts had expected US$683.3 million, according to IBES data from Refinitiv.
Net loss attributable to common stockholders widened to US$140.13 million, or 25 cents per share, for the quarter, compared to US$71.5 million, or 40 cents per share, a year earlier.
(Reporting by Tiyashi Datta in Bengaluru; Editing by Arun Koyyur)
