Roblox shares down 2.9% premarket after May bookings hurt by strong dollar

Shares of social-gaming platform Roblox Corp.
fell 2.9% in premarket trade Wednesday, after the company released metrics for its performance in May that showed bookings down from the year-earlier period. San Mateo, Calif.-based Roblox said estimated bookings were between $196 million and $199 million, down 9% to 11% from the year-earlier period, hurt by dollar strength. “This impact is more pronounced in May compared to prior periods in 2022,” the company said in a statement. “We estimate that the impact of foreign currency fluctuations led to a reduction of around 4% in our May 2022 bookings year over year growth rate.” Estimated average bookings per daily active user were between $3.89 and $3.95, down 23% to 24% from the year-ago month. Daily active users stood at 50.4 million, up 17%, and hours engaged came to 3.6 billion, up 10%. The company expects revenue for the month to come in between $194 million and $197 million, up 28% to 30%. Shares have fallen 75% in the year to date, while the S&P 500
has fallen 21.6%.

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