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RBLX Stock: Why Roblox Shares Are Taking a Hit Today

Roblox (NYSE:RBLX) stock is on the move today after the game company released its earnings report for the second quarter of 2021.

Roblox sign logo at headquarters representing RBLX Stock.

Source: Michael Vi / Shutterstock.com

The bad news for RBLX stock begins with its adjusted losses per share of 25 cents. That’s a major disappointment compared to Wall Street’s adjusted earnings per share estimate of 23 cents. However, it is an improvement over the -40 cents per share from the same time last year.

Another negative for RBLX stock comes in the form of $451.1 million in revenue. Yet again, this wasn’t able to match analysts’ revenue estimate of $689.21 million for the period. That’s despite it being more than double the $200.39 million reported in the second quarter of 2020.

Michael Guthrie, CFO of Roblox weighed in on the earnings with the following statement.

“In the quarter ending June 30, 2021, cash from operations and free cash flow continued at record levels. 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.”

RBLX stock is already seeing heavy trading for Tuesday. As of this writing, more than 15 million shares of the stock have changed hands. For perspective, that’s above the company’s daily average trading volume of about 10.5 million shares.

RBLX stock was down 1% as of Tuesday morning but is still up 13.2% since its IPO in March.

There’s plenty of more earnings news that investors will want to know about below!

InvestorPlace keeps up with all the latest stock news and earnings are in full swing today. That includes the most recent results from Sea Limited (NYSE:SE) and Romeo Power (NYSE:RMO), as well as an update on Chinese EV stocks. You can find all of this information by following the links below!

More Stock Market News for Tuesday

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.


Article printed from InvestorPlace Media, https://investorplace.com/2021/08/rblx-stock-why-roblox-shares-are-taking-a-hit-today/.

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