Roblox reports Q1 bookings of $923.8M, up 19%, but stock plunges on weak Q2 outlook

Roblox reported that its first quarter bookings reached $923.8 million, up 19% at a time when much of the game industry has reported weak results.

However, the company’s stock price has fallen 27.36% in trading to $28.32 a share this morning due to a weak financial outlook. Based on the midpoint of its guidance, Roblox expects bookings in the second quarter of $885 million, compared to the consensus estimate of $929 million. For the full year, Roblox forecast bookings of $4.05 billion, which missed the expected target of $4.18 billion.