In addition, Cost noted he is looking for updates on four topics, including early feedback and pacing of the advertising rollout success deploying the AI tools on the platform any updates on operating leverage and lastly, how the competitive environment is going. Hours engaged jumped 24% year-over-year to 14B, below the estimate of 14.4B. Average bookings per daily active user dipped 3% to $11.92, also short of consensus. However, costs and expenses rose sharply, to $994.8M, leading operating loss to expand to $314M from a year-ago loss of $170.3M.Īverage daily active users rose 25% year-over-year to 65.5M, below the estimate of 65.8M.
On Wednesday, Roblox ( RBLX) said bookings rose 22% in the second-quarter to $780.7M, above Wall Street estimates. "While we remain cautious on many of those points, the combination of near-term growth uncertainty and longer term call options leaves us with a more balanced outlook at these levels, as we upgrade RBLX to EW with a $30 price target," Cost wrote in an investor note. Morgan Stanley analyst Matthew Cost raised his rating on Roblox ( RBLX ) shares to equal-weight from underweight, noting that shares "now fairly reflect" the near-term headwinds, notably a bookings slowdown in the second-half of the year, which is balanced against opportunities to drive growth such as artificial intelligence and ads. Roblox ( NYSE: RBLX) rose more than 2.5% pre-market trading on Thursday, following Wednesday's sharp sell-off, as a couple of Wall Street analysts upgraded the online video game company after it reported "mixed" second-quarter results.
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