Why Roblox Stock Is Tumbling Today

Roblox Corp RBLX shares are trading lower Monday after the company reported key metrics for March. 

The Details: Roblox said daily active users totaled 66.2 million last month, representing an increase of 26% year-over-year. Hours engaged also jumped 26% to 4.8 billion.

Roblox estimated that total revenue for March came in between $212 million and $223 million. Estimated bookings were between $247 million and $255 million, while estimated average bookings per daily active user came in between $3.73 and $3.85. 

Roblox said it will no longer report metrics on a monthly basis. 

"We have now published monthly key metrics over our first eight quarters as a public company. While we believe that has provided incremental information to investors regarding the seasonality of the business, we have decided to cease providing key monthly metrics to align our reporting cadence with our value of taking the long view," the company said. 

See Also: Angry Birds Maker Confirms Talks With Sega Over Tender Offer

RBLX Price Action: Roblox has a 52-week high of $53.87 and a 52-week low of $21.65. 

The stock was down 12.2% at $40.11 at the time of writing, according to Benzinga Pro.

Photo: courtesy of Roblox.