Roblox slides as bookings miss raise gaming slowdown worries

FILE PHOTO: A child looks back at a banner for Roblox, displayed to celebrate the company's IPO, on the front facade of the New York Stock Exchange (NYSE) in New York, U.S., March 10, 2021. REUTERS/Brendan McDermid

(Reuters) -Roblox Corp missed estimates for quarterly bookings on Tuesday, in yet another sign the gaming industry is facing a slowdown after a pandemic-fueled boom, sending shares of the gaming platform down around 19% in extended trading.

Roblox's downbeat results come as firms ranging from console makers and chip makers to video game publishers warn of a slowdown in the gaming world as red hot inflation hammers discretionary spending, challenging the idea of a "recession proof" industry.