Roblox Plunges On Wider Loss In Q2 Below View

(RTTNews) - Shares of video game developer Roblox Corporation (RBLX) are falling more than 20% Wednesday morning after reporting wider loss in the second quarter below analysts' view.

The company reported net loss of $282.78 million or $0.46 per share, wider than $176.44 million or $0.30 per share in the same quarter a year ago, that missed the average estimate of analysts polled by Thomson-Reuters of $0.45 loss per share.

Revenue was, however up 15% to $680.8 million, compared with the consensus estimate of $784.86 million.

RBLX, currently at $29.94, has traded in the range of $25.32 - $53.88 in the last 1 year.