Why Roblox Shares Are Sliding Today

Roblox Corp RBLX is trading lower Wednesday morning after the company announced its November metrics.

Roblox said daily active users were 49.4 million, representing an increase of 35% year-over-year. Hours engaged totaled 3.6 billion, representing an increase of 32% year-over-year.

Roblox said estimated bookings for the month were between $208 million and $211 million. However, estimated average bookings per daily active user were between $4.21 and $4.27, representing a decrease of 8% to 9% year-over-year.

The company said revenue is estimated to be between $184 million and $187 million, representing an increase of 84% to 87% year-over-year.

See Also: Roblox Whale Trades Spotted

Roblox operates an online video game platform that lets young gamers create, develop and monetize games for other players.

RBLX Price Action: Roblox has traded as high as $141.59 and as low as $60.50 over a 52-week period.

The stock was down 8.57% at $98.44 at time of publication.

Photo: courtesy of Roblox.