Shares of Roblox (NYSE: RBLX) were down by more than 10% in morning trading on Monday as the mobile and video games developer announced its user metrics for the month of March. These user metrics indicated that foreign currency fluctuations dragged down the company’s revenues and bookings growth rate in March by 2%.
Roblox estimated revenues in the range of $212 million to $223 million, up by 15% to 21% year-over-year in March while estimated bookings came in between $247 million and $255 million, an increase of 23% to 27% year-over-year. RBLX users were engaged for 4.8 billion hours in March, a jump of 26% year-over-year.
The company’s daily active users (DAUs) soared by 26% year-over-year to 66.2 million while estimated average bookings per daily active user (ABPDAU) were in the range of $3.73 and $3.85, a decline of 2% year-over-year or an increase of 1%. On a constant currency basis, ABPDAU would have grown in the range of a negative 1% and a positive 3%.
Analysts are cautiously optimistic about RBLX stock with a Moderate Buy consensus rating based on nine Buys, five Holds, and four Sells.
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