Roblox Corp. (RBLX) is on the run.
After a rough pullback, the gaming stock is showing some signs of life.
For one, the stock is shrugging off an earnings loss of 27 cents, which was wider than expectations. Revenue and active daily users also came in lighter than hoped. Bookings came in at $631.2 million, which was down about 3% year over year. Analysts were looking for $655.7 million. Net loss also grew to $160.2 million, which was bigger than expectations for $68 million.
Also, daily active users hit 54.1 million, up 28% from the first quarter of 2021. Users over age 13 grew by 38%, and hours engaged jumped year over year 22% to 11.8 million.
Despite that news, the stock is moving higher.
All after the company said that April bookings are starting to turn around after a harsh March.
“March was a very difficult compare. We were all locked down a year ago,” CEO David Baszucki told CNBC. “We’re happy that in April, we’ve seen that start to turn around. We think longer term, we’ll see booking start to catch up with user growth.”
At the moment, RBLX is sitting at a 52-week low, last trading at $28.84.
