By THOUSIF INC
Roblox shares plunged 26% after the company reported earnings that missed expectations.
The gaming company reported fourth-quarter revenue of $770 million, below the $772 million that analysts expected.
Its loss of 25 cents per share was more comprehensive than the 13 cents anticipated.
Roblox also reported 49.5 million daily active users, up 33% from the year-earlier period.
Daily active users reached 54.7 million in January, up 32% year-over-year.
Major sports brands have turned to Roblox as they look for metaverse real estate.
Roblox announced a partnership with the NFL on a team-building game called “NFL Tycoon.”
Allowing players to pick rosters, customize stadiums, and more.
The league was already enmeshed with Roblox after opening a virtual merchandise store within the platform in November 2021.
That same month, Nike launched “NIKE LAND” within Roblox, where users can play games and browse products.