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Bryn Talkington, managing partner at Requisite Capital Management, joins CNBC's "Halftime Report" to detail her strategy for the beaten-down name.
Roblox Corporation (NYSE:RBLX ) Q1 2024 Earnings Conference Call May 9, 2024 8:30 AM ET Company Participants Stefanie Notaney - Senior Director, Financial Communications David Baszucki - Co-Founder and CEO Mike Guthrie - CFO Conference Call Participants Bernie McTernan - Needham & Company Drew Crum - Stifel Omar Dessouky - Bank of America Cory Carpenter - JPMorgan Clark Lampen - BTIG Eric Handler - ROTH MKM Operator Good morning. My name is Tamika and I will be your conference operator.
Pre-market futures are down a bit again this morning. We appear to be plateauing a bit this week, following a gallant fight back from near-term lows mid-April.
Roblox beat on both bookings and earnings this morning, but its stock sold off anyway. Guidance from the gaming platform company was weaker than expected.
To use a term that Roblox (NYSE: RBLX ) users understand, it might be “game over” for RBLX stock. Throughout the past few years, the video game producer has risen to the top of the online gaming world and gained prominence as a metaverse stock.
Shares of Roblox Corp. (RBLX) fell substantially in intraday trading Thursday following the release of the video game company's first-quarter results.
The headline numbers for Roblox (RBLX) give insight into how the company performed in the quarter ended March 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Roblox Corp (NYSE:RBLX) shares plunged more than 23% after the online game platform and game creation system downwardly revised its bookings forecast for the full year, making it yet another video game company to struggle post-pandemic amid softening demand. Roblox now expects 2024 bookings between $4 billion and $4.1 billion, below its earlier forecast of $4.14 billion to $4.28 billion.
Roblox (RBLX) came out with a quarterly loss of $0.43 per share versus the Zacks Consensus Estimate of a loss of $0.53. This compares to loss of $0.44 per share a year ago.
There were high hopes for Roblox NYSE: RBLX going into the Q1 release, and they were shattered on the rocks of reality. The reality is that the metaverse, as neat as it sounds, just isn't producing the accelerating growth that market participants had come to expect.