Roblox (RBLX) Q3 earnings 2022

Shares of Roblox closed down 21% Wednesday after the corporate reported a third-quarter loss however beat analyst estimates for bookings income.

Here is how the corporate did:

• Loss per share: 50 cent loss vs. 35 cent loss per share anticipated, based on Refinitiv
• Income (bookings): $702 million vs. $686 million anticipated, based on Refinitiv

The income determine is what Roblox calls bookings, which embrace gross sales acknowledged in the course of the quarter and deferred income. Bookings rose by 10% 12 months over 12 months. The corporate generates income from gross sales of its digital foreign money known as Robux, which gamers use to decorate up their avatars and purchase different premium options within the video games.

Roblox reported 58.8 million common day by day energetic customers, up 24% from a 12 months earlier, and up from the 52.2 million day by day energetic customers it reported in its second quarter. Customers spent greater than 13.4 billion hours engaged in Roblox in the course of the third quarter.

Roblox mentioned common bookings per day by day energetic consumer was $11.94, down 11% 12 months over 12 months.

The corporate noticed bookings swell greater than 200% in the course of the pandemic when children had been spending extra time on their screens whereas caught at residence. The inventory was blazing sizzling in 2021, after Roblox’s direct itemizing in March. Its market cap neared $80 billion earlier than peaking in November 2021. Shares are down about 62% to this point this 12 months.