Shares of Roblox (RBLX) plunged 15% in after-hours trading after the video game developer missed fourth-quarter earnings expectations on both the top and bottom lines.
Roblox’s revenue came in at $770 million U.S. versus $772 million U.S. that Wall Street had expected. The company’s loss per share came in at $0.25 U.S. compared to a loss of $0.13 that was expected.
Roblox did report 49.5 million daily active users in the fourth quarter, up 33% year-over-year.
Roblox makes an open gaming platform that enables players to create their own “worlds” where they can interact and play with others over the internet. Roblox was the first major company working on the metaverse to go public.
Roblox sells virtual currency to players, which is used to purchase digital items in the game. Roblox has also signed deals with several big brands in recent months, such as the NFL and Nike (NKE).
Roblox stock finished trading yesterday (February 15) at $73.30 a share, down 25% year-to-date.