$RBLX - EARNINGS JUST RELEASED -
Added 2024-08-01 12:33:21 +0000 UTC$RBLX just reported and revenue was slightly down but beating on earnings.
PM is up +4.6% right now.
We can see on the chart that this brings the price action towards the wedge top line which is at $44 right now, $RBLX would need to break and hold above this level to trigger the Wave 3 impulse wave for us.
Which is quite high here at the 1.618 Fib at $76.90
Report:
Roblox earnings flew past quarterly estimates and delivered upbeat financial forecasts.
The videogame platform posted a fiscal second-quarter loss of 32 cents per share, narrower than the loss of 39 cents Wall Street had penciled in, according to FactSet. A year ago, the company lost 46 cents per share.
Bookings, a form of adjusted revenue preferred by videogame analysts, were $955.2 million, soaring 22% from a year ago and above the consensus call for $898 million.
For its third quarter, the company is calling for bookings between $1 billion and $1.025 billion, while analysts have forecast $967 million.
For the full year, it now expects bookings of $4.18 billion to $4.23 billon, higher than a prior range of $4 billion to $4.1 billion. Analysts were calling for $4.08 billion.
That guidance boost stems from confidence in the business, Chief Financial Officer Michael Guthrie told Barron's. "Confidence in some of the steps we've taken over the past few months to improve top-line growth and the success of those investments and the fact that we, of course, that we believe they'll continue for some amount of time," he continued. "It's really that simple."
