Roblox tumbles as results show growth slowing after pandemic

As kids return to school, Roblox saw its growth slowdown from pandemic-lockdown highs, resulting in a tumble in share value. — REUTERS/File Photo

Roblox Corp. reported bookings that missed analysts’ estimates in the fourth quarter, reflecting a retreat from the pandemic-inspired boost over the last two years as Chief Executive Officer David Baszucki urged investors to "take the long view” on the game platform company. The shares tumbled 14% in extended trading.

Bookings, which include revenue and deferred revenue and other adjustments, rose 20% from a year earlier to US$770.1mil (RM3.22bil), the company said in a statement on Tuesday. Analysts were estimating US$786.2mil (RM3.29bil), according to data compiled by Bloomberg.