Wall Street

Roblox Stock Closes Higher After Falling Due to Results

ROBLOX's stock ends the trading round with an increase after the initial decline in light of the publication of first-quarter results

ROBLOX shares ended the trading round with a 3% gain, reversing initial loss 10% yesterday evening, following the company’s release of disappointing Q1 results

The company’s loss amounted to 27 cents per share, compared to expectations of Wall Street analysts, which was a loss of no more than 21 cents per share. By 3% during the quarter, the number of daily active users reached 54.1 million, compared to expectations of 55 million users. Read More [Roblox’s Revenue Doubles In The Third Quarter].

Although it’s not clear why Roblox’s stock is up, it looks bullish on the quarter’s growth, given that the online video game platform has faced tough comparisons with its performance in the early stages of the pandemic when kids stayed home on TVs and game consoles as entertainment. About themselves during quarantine.

The company was expecting annual growth to fall in April, but that happened in March, which it sees as good from its point of view because annual growth rates were better during April compared to March, and the improvement is expected to continue in May and June, according to Chief Financial Officer Michael. Guthrie, but with a decline in May numbers before the summer season begins with June, pushing Roblox numbers to fly. Read more [Top 5 Stocks Right Now, In Conjunction With Volatile Markets].

Related Articles

Back to top button