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Roblox Misses Quarterly Earnings Estimates

Roblox shares plunged by 10% during premarket trading on Wednesday after the company reported second-quarter results that missed analysts’ expectations.

The video game publisher’s revenue for the second quarter was $781 million, falling short of analysts’ estimates of $785 million. The company reported a loss per share of 46 cents, lower than Wall Streets’ estimates of a 45 cent loss per share.

Sales on a year-over-year basis rose by 22%, with the company reporting a revenue of $639.9 million a year ago. The company’s earnings come from its virtual currency called Robux, which is used to purchase premium in-game features. Roblox reported 65.5 million daily active users on average, up 25% from the previous year.

While historically targeted at younger children, Roblox is working to expand its appeal to other age groups. The company announced that eligible creators on its platform will be enabled to build games featuring mature content.

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