Roblox Slides After Reporting Month-Over-Month Drop in Bookings

Katrina Lewis, Bloomberg News

It’s been fun. Photographer: Bloomberg/Bloomberg , Photographer: Gabby Jones/Bloomberg

(Bloomberg) -- Roblox Corp. shares fall 7.1% in extended trading after the video-game company said May bookings declined from the previous month.

The company estimated bookings to be between $216 million and $219 million in May, down about 11% at the midpoint from between $242 million and $245 million in April. Average bookings per daily active user also declined month over month.

Truist Securities analyst Matthew Thornton said bookings look “softer than expected,” though he noted that the company has said that May metrics are typically down month over month, while June metrics are usually up.

May daily active users also fell 1% from the previous month. Daily active users were 43 million in May, down from 43.3 million in April, though up 28% year over year, according to a release of the month’s key metrics.

Roblox shares gained 2.3% on Tuesday. The stock has doubled since the company’s initial public offering in March.

Read more: Roblox Reaches $45 Billion Valuation as Shares Rise in Debut (3)