Roblox is one of the latest tech and gaming companies to put out its most recent quarterly earnings results this week, and Q2 2023 ended a bit sour for the company. Not only was Roblox unable to post a beat on revenue expectations for the quarter, but it ended up with more losses than expected on earnings-per-share (EPS), closing out Q2 2023 with its stock dipping on its results.
Roblox released its Q2 2023 earnings results report via its investor relations website. While bookings for the company were up year-over-year, they still failed to achieve Wall Street expectations. Bookings came in at $781 million USD while estimates called for $785 million. Unfortunately, EPS didn’t fare too much better. The company ended up at a loss of $0.46 per share where it was expected by Wall Street that EPS losses would only come out to $0.45 per share.
It's actually a little out of the ordinary for Roblox to come up short, though it may go to show that estimates demanded a little too much of the company and its world-famous gaming and social platform. For instance, Daily Active Users (DAUs) were 65.5 million in Q2 2023 for Roblox. It was up 25 percent year-over-year from Q2 2022. However, it’s worth mentioning that the number was down from Roblox’s 66.1 million DAUs recorded in its Q1 2023 results. On the flipside, Roblox’s average monthly unique payers ended up at 13.5 million players, which was up 19 percent year-over-year.
Roblox is clearly not in trouble, still having a robust playerbase and raking in cash left and right, but it seems the expectations were a little too steep this time for the company to overcome in Q2 2023. Stay tuned as we continue to report on tech and gaming companies releasing quarterly results.