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By Sam Boughedda
Investing.com — Roblox Corp (NYSE:RBLX) shares are down 11.6% despite the online game platform's metrics in November, showing a rise year on year.
Roblox shares are currently trading around $95.17.
Daily active users rose to 49.4 million during the month, up 35% year over year, while the number of hours engaged came in at 3.6 billion, up 32% from the previous year.
Estimated bookings were between $208 million and $211 million, a rise of 22% to 24% year over year. However, estimated average bookings per daily active user were between $4.21 and $4.27, down 8% to 9%. As a result, Roblox expects revenue to be between $184 million and $187 million, a potential rise of between 84% and 87%.
With most of the data up from last year, some may have expected a muted, if not slightly positive, reaction. However, the numbers reported were below expectations. Stifel's Drew Crum forecasted November bookings at around $220 million.
"Results came in slightly below our expectations and appeared to trail the historical trend line whereby November typically experiences a modest sequential uptick vs. October," said Crum in a note to investors.
"We think shares will be down on this update. With that said, December is seasonally the most important month of CY4Q, and thus we are not making any adjustments to estimates at this point," he added.
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