Roblox quarterly loss widens on higher expenses, shares tank

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//File Photo

(Reuters) -Roblox Corp posted a larger-than-expected quarterly loss on Wednesday, hurt by higher expenses to support the expansion of its business, sending the company's shares down 12% in premarket trading.

California-based Roblox said higher expenses due to developer exchange fees, personnel costs and infrastructure were the reason behind the bigger loss.