Roblox raises bookings forecast, but CFO exit causes shares to drop

From Investing.com: 2024-08-01 10:52:07

Roblox raised its annual bookings forecast, with user engagement rising during summer holidays and more mature content attracting users with higher spending power. However, shares fell 9% after CFO Michael Guthrie’s exit. The company encourages developers to create mature content, leading to a 30% increase in player engagement. Annual bookings now expected between $4.18 billion and $4.23 billion.

Roblox relies on user-generated content and in-game currency sales, similar to Epic Games’ Fortnite. Third-quarter bookings forecasted between $1 billion and $1.03 billion, surpassing estimates. Second-quarter bookings exceeded Wall Street expectations, benefiting from increased user engagement during the summer holidays.



Read more at Investing.com: Roblox raises bookings forecast, CFO exit weighs on shares By Reuters