Roblox Corp. reported a daily active user count and hours played that fell short of analysts’ expectations.
The number of daily active users fell 1% from last quarter to 65.5 million. Analysts had forecast 65.8 million. Roblox is aiming one day to achieve one billion daily active users, the company said in a press release.
Users spent 14 billion hours playing games. Analysts had anticipated 14.4 billion hours. Last quarter, players spent 14.5 billion hours on the platform.
The company reported sales that beat analysts expectations as the online gaming giant continued to bring in new players. Bookings, which the company defines as sales plus the change in deferred revenue from online purchases, rose 1% from last quarter to $780.7 million. That was ahead of analysts’ projections of $770.6 million.
Roblox is among the most popular gaming platforms on Earth. The 17-year-old company leads in the metaverse industry, where competitors have struggled to gain traction and companies including Microsoft Corp., Tencent Holdings Ltd. and Meta Platforms Inc. are paring back efforts as hype fades from the space.
Shares fell as much as 8.5% in premarket trading. They were up 33% this year through Tuesday’s close.
