Shares of metaverse company Roblox plummet 15% after missing fourth quarter expectations
Roblox missed Wall Street expectations on both the top and bottom lines in the fourth quarter.
JimMin
Nike is teaming up with roblox to launch a virtual world called Niketown.
Source: Nike
Gaming company Roblox shares fell 15% in after-hours trading Tuesday after missing fourth-quarter expectations on both the top and bottom lines.
Here's how the company did versus expectations:
Revenue (bookings): $770 million vs. $772 million expected, per Refinitiv consensus estimatesLoss per share: 25 cents vs. 13 cents expected, per RefinitivThe company also reported 49.5 million daily active users up 33% year-over-year.
Roblox makes an open gaming platform, which lets players create their own "worlds" where they can interact and play with others over the internet and was the first major company working on the metaverse to go public.
Roblox sells virtual currency to players, which is used to purchase digital items in the game. Roblox has also signed deals with several big brands in recent months, such as the NFL and Nike.
This story is developing.
