Published , by Morgan Shaver
Published , by Morgan Shaver
Roblox (RBLX) stock fell as much as 12 percent on Monday after the company released its March 2023 update which includes expectations of average bookings (revenue figures from sales of Robux virtual currency) per daily user to fall year over year. In addition, Roblox shared plans to discontinue releasing monthly key metrics reports to align its reporting cadence with its “value of taking the long view.”
On this matter, the company remarked that, “While we believe that has provided incremental information to investors regarding the seasonality of the business, we have decided to cease providing key monthly metrics to align our reporting cadence with our value of taking the long view.”
While shares of Roblox are down following its latest report, RBLX stock is up over 60 percent year to date as reported by outlets like CNBC. Furthermore, estimated bookings ranged between $247 and $255 million, up 23 to 27 percent year over year.
The dip in bookings hasn’t been too severe thus far either, with average bookings per daily user between $3.73 and $3.85 in March, reflecting a change of -2 percent to +1 percent from this period last year. Daily active users also increased 26 percent from March 2022 to 66.2 million users.
Moving forward, it’ll be interesting to see the response to Roblox discontinuing its monthly key metrics reports, in addition to its expectations of average bookings falling year over year. Now that you’re caught up on the latest Roblox news, be sure to brush up with some of our previous coverage, including how Roblox may be coming to Meta Quest in 2023, and how Roblox’s (RBLX) Q4 2022 earnings results beat revenue expectations.