Roblox Guided Bookings Down as Much as 18% and Withdrew Its Full-Year Outlook. The Algorithm Change Behind It Was Deliberate.
The gaming platform's guidance implies shrinking bookings, and management says one cause was a choice.
Overview
Roblox (NYSE: RBLX) told investors Thursday to expect third-quarter bookings of $1.576 billion to $1.653 billion, a decline of 14% to 18% from a year ago. It also declined to offer a full-year outlook, accelerating a planned shift to quarterly only guidance.
Shares fell about 27% Friday, hitting a fresh 52-week low near $34.
Details
Management says part of the damage is self-inflicted, on purpose.
Source
Originally published at www.fool.com.
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