Thndr Claps » U.S. Claps » Tech 📲 » Roblox tumbles 🧱
The ClapRoblox (NYSE:RBLX) saw its stock collapse in yesterday’s session releasing an update that showed slowing growth and fewer revenues.
WhatThe company’s revenues grew 5%-7% YoY from November 2021. However, Roblox had estimated initially that revenues were to grow 22%-24% YoY, indicating a significant slowdown.
So WhatThe videogame industry has shown weakness during 2022, with other gaming companies cutting forecasts due to challenging economic conditions.
Now WhatThe company saw its shares decline more than 15% during yesterday’s session, down more than 70% YTD.
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