Roblox (NYSE:RBLX) stock is taking a beating on Wednesday after the company released an update on its business for May 2021.
In that business update, the company notes that it saw a total of 43.3 million daily active users for the month. That’s a 28% increase year-over-year. Unfortunately, it’s down 1% from the 43.3 million daily active users in April.
The other bit of bad news comes from its estimated bookings of $216 million to $219 million during May. This represents a YoY increase of 24% to 26%. However, it’s down from the estimated bookings between $242 million and $245 million in April.
To go along with that, the estimated average bookings per daily active user in the month of May were $5.02 to $5.09. That’s a 2% to 3% drop from the same time last year. It also doesn’t match up to the April estimate average bookings per daily active user of $5.59 to $5.66.
Other data worth noting from the business up from Roblox includes its estimated revenue of $149 million to $151 million for the month. That’s a 123% to 126% increase from May 2020. It’s also better than the company’s estimated revenue of $143 million to $145 million from April.
The final bit of data from the business update isn’t as major. It notes that hours engaged in May were 3.2 billion. The company notes that this is down 1% from the 3.2 billion hours engaged in the previous month.
RBLX is seeing heavy trading on today’s news. As of this writing, more than 17 million shares of the stock have changed hands. That’s above the company’s daily active trading volume of about 10.1 million shares.
RBLX stock was down 4.2% as of Wednesday morning but is still up 23.3% since going public in March.
Investors looking for more market news should keep reading.
There’s plenty of news to discuss today as several stocks are on the move. That includes the latest concerning DraftKings (NASDAQ:DKNG), Chinese EV stocks having some trouble, and Arrival (NASDAQ:ARVL) gaining. Check out all of that news below!
More Wednesday Stock Market News
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.