5 Companies Drawing Attention on Quarterly Reports

2. Roblox Corporation (NYSE:RBLX)

Number of Hedge Fund Holders: 61

Roblox Corporation (NYSE:RBLX) recently announced weak financial results for the first quarter. The disappointing performance sent Roblox shares down to an all-time low in the pre-market trading session on Wednesday, May 11, 2022.

The California-based video game developer reported a loss of 27 cents per share, wider than analysts’ average estimate for a loss of 22 cents per share. In addition, Roblox Corporation (NYSE:RBLX) posted revenue of $537.1 million, up 39 percent over the year-ago quarter but well below the consensus of $639.5 million.

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Among other updates, Roblox Corporation (NYSE:RBLX) reported that booking for the quarter slipped 3 percent versus last to $631.2 million. In addition, average daily active users in the quarter jumped 28 percent on a year-over-year basis to 54.1 million but came in slightly below the expectations of 55 million.

Commenting on the quarter, CEO David Baszucki said:

“We remained focused on delivering our innovation roadmap to unlock the full potential of the Roblox platform and drive long-term returns for investors. Over the past two quarters, we have launched a number of notable innovations including spatial voice and layered clothing that will continue driving user growth, engagement and monetization.”