Why Roblox Shares Are Trading Lower Today

Roblox Corp RBLX shares are trading lower by 8.4% at $82.30 as May metrics showed a daily active user decline from April.

Roblox is an online entertainment platform, where users can interact with each other to explore and develop immersive, user-generated and 3D experiences. The platform offers a wide range of online games for kids, teens and adults.

The company announced Tuesday that daily active users were 43 million, up 28% from May of last year and down 1% from 43.3 million in April 2021.

See Also: Roblox Shares Fall After Releasing May Numbers, Initially Showed Strength On Down Day For Sector

Roblox also shared the following May metrics:

• Hours engaged were 3.2 billion, up 9% year over year and up 1% from 3.2 billion in April 2021.
• Bookings are estimated to be between $216 million and $219 million, up 24% - 26% year over year.
• Average Bookings per DAU are estimated to be between $5.02 and $5.09, down 2% - 3% year over year.
• Revenue is estimated to be between $149 million - $151 million, up 123% - 126% year over year.