Here’s what Roblox Q2 earnings report tells us

Roblox Corp. (NYSE: RBLX) said on Monday it fell shy of Wall Street estimates in the fiscal second quarter as people spent less time indoors amidst easing COVID-19 restrictions. Shares of the company were about 5% down in after-hours trading.

Second-quarter financial performance

Roblox reported $140.1 million of net loss in the second quarter that translates to 25 cents per share. In the comparable quarter of last year, it had posted $71.5 million of loss or 40 cents per share.

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The video game developer generated $454.1 million of revenue in the recent quarter versus the year-ago figure of $200.4 million. Bookings also climbed in Q2 to $655.5 million – an increase from last year’s $494.2 million.

According to FactSet, experts had forecast the company to post $684.8 million of revenue in the second quarter on 12 cents of earnings per share. In June, billionaire investor Cathie Wood added to her position in RBLX despite an 8% decline in DAUs a month earlier.

CFO Michael Guthrie’s remarks

Commenting on the financial update, CFO Michael Guthrie said:

“The third quarter is off to a strong start with our highest levels of users and engagement to date. We will continue to invest in our developer community, hire top engineering talent, and build out the infrastructure required to scale Roblox globally.”

The earnings report comes on the same day when Roblox acquired Guilded Inc for an undisclosed amount. The privately held company that competes with the likes of Discord offers a platform to gaming communities to connect via scheduling tools and video chat.

Roblox debuted on the New York Stock Exchange in March 2021 at a per-share price of about $70 that valued it at close to $42 billion. Shares are now trading at $75.70, giving it a market cap of more than $45 billion.