Roblox Stock Plunges 21% After Q2 Report, Analyst Downgrades

Roblox Corporation (NYSE: RBLX ) shares are trading lower Friday after the company reported second-quarter earnings on Thursday after the market closed. Roblox shares are approaching critical lows. Why is RBLX stock at lows? Roblox Beats Estimates with User Growth Despite $185M Loss Roblox reported a loss of 26 cents per share, beating the consensus estimate of a 30 cent-loss. In addition, Roblox reported revenue of $1.55 billion, inline with the consensus estimate. Average daily active users reached 123 million, up 10% year-over-year, while hours engaged rose 5% to 29 billion. Average monthly unique payers grew 15% to 27 million, and bookings increased 8% year-over-year to $1.6 billion. The company reported a consolidated net loss of $185 million. “We remain focused on capturing 10% of the global gaming market and an even greater share in the U.S. Q2 delivered year-over-year ga...