Roblox Corp. declined in the extended session Monday after the social-gaming platform’s results came in below Wall Street expectations.
shares fell as much as 7% after hours, and were last down about 3%, following a 5.2% drop in the regular session to close at $79.57.
The company, which began publicly trading its shares in March, reported a second-quarter loss of $140.1 million, or 25 cents a share, compared with a loss of $71.5 million, or 40 cents a share, in the year-ago period.
Roblox reported that revenue rose to $454.1 million from $200.4 million in the year-ago quarter, while bookings grew to $655.5 million from $494.2 million in the year-ago period.
The company defines bookings as “revenue plus the change in deferred revenue during the period and other non-cash adjustments.” The importance of bookings comes into play as the company sells virtual currency on its site that may be considered deferred revenue.
Analysts, on average, had forecast earnings of 12 cents a share on revenue of $684.8 million. Last earnings report, FactSet’s Wall Street consensus for revenue was compared against Roblox’s reported bookings.
“The third quarter is off to a strong start with our highest levels of users and engagement to date,” said Michael Guthrie, Roblox chief financial officer, in a statement. “We will continue to invest in our developer community, hire top engineering talent, and build out the infrastructure required to scale Roblox globally.”
Earlier in the day, Roblox said it acquired privately held Guilded Inc. for an undisclosed amount. Guilded, which Roblox said will “operate as an independent product group,” provides a platform that connects gaming communities through such features as video chat and scheduling tools.