Shares of Roblox (NYSE: RBLX) were on a downward trajectory in pre-market trading on Wednesday after the mobile and video game developer reported disappointing Q3 earnings. Shares of RBLX have already tanked more than 60% in the past year.
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Roblox’s revenues in the third quarter were up 2% year-over-year to $517.7 million but missed consensus estimates by $171.55 million. The company’s losses widened in Q3 to $0.50 per diluted share versus $0.13 in the same period last year. Wall Street analysts were expecting a loss of $0.31 per share.
Average booking per daily user fell 11% year-over-year to $11.94 in Q3.
