(Reuters) – Roblox Corp posted a bigger quarterly loss on Wednesday, hurt by higher expenses to support the expansion of its platform, sending shares down 12% in premarket trading.
Roblox, which is among the world’s most popular gaming sites for children, has been constantly racing to expand its user base by doubling down on collaborations with NFL, FIFA and artists such as Elton John and Mariah Carey.
Net loss attributable to common stockholders was $268.3 million, or 44 cents per share, in the reported quarter, compared with net loss of $160.20 million, or 27 cents per share, a year earlier.
However, the company posted net bookings of $773.8 million in the first quarter, compared with $631.2 million a year earlier. Analysts were expecting net bookings of $765.9 million, according to Refinitiv data.
(Reporting by Yamini Kalia and Tiyashi Datta in Bengaluru; Editing by Krishna Chandra Eluri)
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