Why Roblox Stock Is Sliding Today

Roblox Corp RBLX shares are trading lower Wednesday after the company announced key metrics for May.

Roblox said daily active users in May increased 17% year-over-year to 50.4 million. Hours engaged climbed to 3.6 billion, up 10% year-over-year. 

Estimated bookings in May were between $196 million and $199 million, representing a decrease of 9% to 11% year-over-year. Estimated average bookings per daily active user was between $3.89 and $3.95, representing a decrease between 23% and 24% year-over-year.

Roblox said it estimates monthly revenue to be between $194 million and $197 million, which is up 28% to 30% year-over-year.

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

See Also: Morning Brief: Top Financial Stories Dominating on Wednesday, June 15

RBLX Price Action: Roblox has traded between $141.59 and $21.65 over a 52-week period.

The stock was down 2.37% at $25.50 at press time, according to data from Benzinga Pro.

Photo: courtesy of Roblox.