Roblox Corp (NYSE:RBLX) shares are trading lower by 6.12% at $21.77 after the company reported worse-than-expected first-quarter EPS and sales results.
Roblox reported quarterly losses of 27 cents per share which missed the analyst consensus estimate of a loss of 22 cents by 22.73 percent. The company reported quarterly sales of $537.10 million which missed the analyst consensus estimate of $639.46 million by 16%. This sales figure represents a 39% increase over sales of $386.98 million in the same period last year.
Roblox estimates DAUs for April were 53.1 million, which was up 23% year-over-year. Roblox also estimates hours engaged for April were 3.8 billion, up 18% year-over-year.
"We remained focused on delivering our innovation roadmap to unlock the full potential of the Roblox platform and drive long-term returns for investors," said David Baszucki, chief executive officer of Roblox.
"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."
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Roblox operates an online video game platform that lets young gamers create, develop and monetize games.
According to data from Benzinga Pro, Roblox has a 52-week high of $141.65 and a 52-week low of $20.83.
