Shares of Roblox tumbled 12% on Monday after the gaming company released its March 2023 metrics report.
metrics report that showed it expects average bookings per daily user to fall year-over-year.
Roblox's estimated average bookings per daily active user were between $3.73 and $3.85 in March, which reflects a change of -2% to +1% from the same period a year ago.Estimated bookings were between $247 million and $255 million for the month, up 23% to 27% year over year. Roblox calls its revenue figure bookings. The company generates revenue from sales of its virtual currency called Robux, which players use to dress up their avatars and buy other premium features in the games. Daily active users rose 26% from March 2022 to 66.2 million users.
Roblox also said it will stop releasing monthly key metrics reports. "While we believe that has provided incremental information to investors regarding the seasonality of the business, we have decided to cease providing key monthly metrics to align our reporting cadence with our value of taking the long view," it said.
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