CEO David Baszucki stated advertising 'will not be material this year,' emphasizing the delay in significant ad revenues for Roblox.
Roblox's Q1 growth fell short of the ambitious 20% targets set by the company, leading to a 20% decline in share price post-earnings report.
Despite positive YoY increases in revenue, daily active users, and engagement hours, the growth rates did not meet the company's expectations.
Investors are worried about a potential slowdown in spending and the perceived lack of progress in developing new revenue streams, contributing to the stock price decrease.
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