Latest News

Stocks in Play

Dividend Stocks

Breakout Stocks

Tech Insider

Forex Daily Briefing

US Markets

Stocks To Watch

The Week Ahead



Commodity News

Metals & Mining News

Crude Oil News

Crypto News

M & A News


OTC Company News

TSX Company News

Earnings Announcements

Dividend Announcements

Roblox Stock Plunges 22% As Guidance Comes Up Short

The stock of Roblox (RBLX) is down 22% after the video game developer delivered forward guidance that fell short of Wall Street’s expectations.

The plunge in the company’s share price is the largest decrease since 2022, according to market Data and brings Roblox stock to a loss of 30% for the year so far.

The forward guidance overwhelmed what were otherwise strong first-quarter financial results for Roblox.

The company behind the popular online video game platform called “Roblox” posted a Q1 loss of $0.43 U.S., which was better than a loss of $0.53 U.S. expected on Wall Street.

Bookings, which is the company’s approximation of revenue, totaled $923.8 million U.S. in Q1, up 19% from a year earlier and above analyst estimates of $919 million U.S.

However, the stock fell after Roblox said that it expects bookings (revenue) of $870 million U.S. to $900 million U.S. in the current second quarter, below analysts’ calls for $929 million U.S.

For all of 2024, bookings are expected to be between $4 billion U.S. and $4.1 billion U.S., down from an earlier forecast of $4.14 billion U.S. to $4.28 billion U.S.

Analysts had anticipated full year bookings of $4.18 billion U.S.

At an investor day last year, Roblox management team said they planned to deliver 20% bookings growth over the next few years, prompting analysts to set lofty expectations for the company in 2024. Those growth projections now seem in doubt.

Since going public in 2021, the stock of Roblox has declined 56% to trade at $30.42 U.S. a share.