Roblox Q1 Loss Beats Estimates; Sees Q2, Annual Revenue Below View; Stock Down - Update

(RTTNews) - (Adds Outlook)

Looking ahead, Roblox Corporation (RBLX) expects its second-quarter and annual revenues below analysts' expectations.

For the quarter, the company expects net loss of $267 million to $265 million. Revenue is projected to be in the range of $855 million to $880 million, below analysts' view of $934.09 million.  

For the full year, the company anticipates net loss of $1.096 billion to $1.044 billion. Annual revenue is expected to be in the range of $3.450 billion and $3.525 billion, below the analysts' forecast of $4.19 billion.

RBLX was trading down by 29.29 percent at $27.63 in the pre-market trade on the New York Stock Exchange.

Roblox Corp (RBLX) announced Loss for first quarter that beat the Street estimates.

The company's earnings totaled -$270.604 million, or -$0.43 per share. This compares with -$268.313 million, or -$0.44 per share, in last year's first quarter.

Analysts on average had expected the company to earn -$0.53 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 22.3% to $801.300 million from $655.344 million last year.

Roblox Corp earnings at a glance (GAAP) :

-Earnings (Q1): -$270.604 Mln. vs. -$268.313 Mln. last year. -EPS (Q1): -$0.43 vs. -$0.44 last year. -Revenue (Q1): $801.300 Mln vs. $655.344 Mln last year.