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: Roblox shares fall sharply after videogame company releases May metrics

Roblox Corp. shares fell more than 6% after hours Tuesday after the videogame company reported key metrics from last month that included mixed results and forecasts. 

The San Mateo, Calif.-based company reported that daily active users rose to 43 million in May, a 28% increase from May 2020 but a 1% decrease from the previous month. Hours engaged climbed higher to 3.2 billion, up 9% year over year and up 1% from 3.2 billion in April.

Roblox
RBLX,
+2.28%

estimated that bookings would be $216 million to $219 million, up 24% to 26% year over year, though it said average bookings per daily active user would be between $5.02 and $5.09, down 2% to 3% year over year. The company also said revenue would be $149 million to $151 million, an increase of 123% to 126% year over year.

For the second quarter ending at the end of this month, analysts surveyed by FactSet expect earnings of 13 cents a share on revenue of $692.3 million.

Roblox, which went public in March through a direct listing, has seen its shares rise 24.5% in the past three months through some volatility. JPMorgan, which initiated coverage of the stock in May, noted that Roblox shares moved up or down 3% or more in the 25 out of 38 days it had observed.

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