HomeWorld NewsStock market recap for February 16, 2022

Stock market recap for February 16, 2022

Reuters

Roblox quarterly bookings disappoint as gaming frenzy wanes

(Reuters) -Gaming platform Roblox Corp on Tuesday missed Wall Street estimates for quarterly bookings because the pandemic-driven frenzy for its video video games waned, sending its shares down greater than 13% in prolonged buying and selling. Increased outside actions for the reason that lifting of restrictions and reopening of faculties in North America have affected consumer spending for pandemic winner Roblox, which is among the many world’s hottest gaming websites for youngsters. Roblox, which had its market debut final yr, stated throughout the fourth quarter common day by day energetic customers grew 33% to 49.5 million and avid gamers spent 10.8 billion hours on the platform, a 28% leap from final yr.

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