Weak Roblox reporting caused shares to drop by almost 19%

The weak financial performance of the American video game developer Roblox Corporation in the 4Q caused a significant drop in its shares. The company ended the reporting period with a net loss of $143.3 million. Its size has increased significantly relative to the loss for October-December of the previous year, in 58.7 million dollars. In addition, the loss per share of 25 cents far exceeded the 13 cents planned by economists. Worse than market estimates was the volume of orders recorded in the fourth quarter. It amounted to 770.1 million dollars, against the volume expected by analysts of 772 million dollars. Over the past year, the indicator has grown by 19.9%. Although quarterly revenue showed an annual increase of 83.48%, amounting to $568.8 million, the company’s quarterly results disappointed the market as a whole. Against this background, the shares of Roblox Corporation in the postmarked on February 16 fell by 18.84% to $59.5 per unit.

Source: xCritical.com