Roblox shares plunged 14% after falling short of Wall Street's bookings and daily active user estimates.
The results come amid a rocky stretch for the industry after video game developer Electronic Arts cut its forecast last month.of $1.36 billion for the fourth quarter, versus the $1.37 billion expected by analysts polled by LSEG. Daily active users came in at 85.3 million, reflecting 19% growth from a year ago. However, the figure came up short of a StreetAccount estimate of 88.2 million.
The company said it anticipates bookings to range between $5.20 billion and $5.30 billion for 2025, compared to a $5.30 billion FactSet estimate.Qualcomm tops estimates for earnings and revenue on strong smartphone demand CEO David Baszucki said in an earnings release that the company would continue to invest in its virtual economy, app performance and "AI-powered discovery and safety, empowering creators and enhancing the user experience" in the new year.due to slowing sales in its soccer franchise, among other games. In its earnings release Tuesday, the company showed a 6% decline in net bookings from a year ago.
Roblox, which relies mainly on content and games created by its users, soared in popularity in the depths of the Covid-19 pandemic, especially among younger generations.in March 2021 and closed at $69.50, or a roughly $38 billion market cap. With Thursday's moves, the stock sits nearly 53% off of its all-time closing high reached in November 2021.
Roblox Corp Breaking News: Technology Breaking News Technology Electronic Arts Business News
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wall Street Analyst Downgrades Apple Stock, Citing China Risks and AI PerformanceMoffettNathanson downgraded Apple stock to 'sell' from 'neutral', citing concerns about the company's prospects in China, the U.S. government's antitrust action against its search partner Google, and a lukewarm consumer response to its new AI features.
Read more »
U.S. Stock Futures Unchanged Despite Wall Street Losses Fueled by Inflation FearsU.S. stock futures remained relatively stable on Tuesday night despite Wall Street experiencing a decline in trading due to heightened inflation concerns triggered by recent economic data. Stocks faced pressure throughout Tuesday's regular session, with all three major indices ending in the red following new data on the U.S. services industry. While the Institute for Supply Management's services index showed an increase, a simultaneous rise in prices fueled worries about persistent inflation and cast doubt on the Federal Reserve's projected interest rate cuts for this year.
Read more »
US Stock Futures Unchanged Despite Wall Street Losses Fueled by Inflation FearsWall Street closed in the red on Tuesday, driven by concerns over persistent inflation following the latest services sector data. US stock futures opened relatively unchanged despite the losses. While the ISM services index showed an increase in prices, signaling potential challenges for the Federal Reserve's interest rate plans, analysts remain optimistic about the long-term market outlook.
Read more »
Wall Street Dips as Inflation Concerns RiseU.S. stock futures remained steady despite Wall Street's decline on Tuesday, fueled by worries about persistent inflation after new economic data.
Read more »
Wall Street Ends in Red Amid Inflation ConcernsU.S. stocks closed lower on Tuesday, weighed down by worries over persistent inflation after the release of new economic data. The Institute for Supply Management's services index for December showed an increase, but also signaled rising prices, raising doubts about the Federal Reserve's plans for interest rate cuts this year.
Read more »
Asia-Pacific Markets Eye Lower Open Amid Wall Street LossesTracking losses on Wall Street, Asia-Pacific markets are poised to open lower on Wednesday. Rising Treasury yields and declines in major tech stocks contributed to the Wall Street losses. Japanese and Hong Kong markets are expected to show mixed performance, while investors remain cautious after a recent sell-off.
Read more »