Roblox Sees Q3 2024 Revenue $860M-$885M Vs $898M Estimate; Sees Q3 Bookings $1B-$1.025B
Portfolio Pulse from Benzinga Newsdesk
Roblox has provided its Q3 2024 guidance, forecasting revenue between $860 million and $885 million, which is below the $898 million estimate. The company also expects bookings between $1 billion and $1.025 billion, a consolidated net loss between $(275) million and $(255) million, and adjusted EBITDA between $22 million and $42 million. Net cash provided by operating activities is expected to be between $147 million and $162 million, with free cash flow between $105 million and $120 million.
August 01, 2024 | 12:04 pm
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Roblox's Q3 2024 revenue guidance of $860M-$885M is below the $898M estimate, which may negatively impact the stock price in the short term. However, bookings are expected to be strong at $1B-$1.025B.
The revenue guidance being below the market estimate is likely to be viewed negatively by investors, potentially leading to a short-term decline in the stock price. However, the strong bookings forecast may provide some support.
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