"They told us to expect single-digit profit margins," later adding: "The Street read that as 9% and it came in at 4.9%, so they really surprised people with how bad their profits were." Pachter cites Amazon CEO Andy Jassy's pivot to profitability after a series of stock losses as inspiration Roblox should aspire to. "They're just not as profitable as I think a $20 billion valuation implies they should be," Michael Pachter, Wedbush Managing Director of Equity Research, tells Yahoo Finance Live. Roblox did see an increase in daily active users and monthly player counts.
Missing on earnings estimates with losses of $0.46 per share, the video game company topped revenue expectations by drawing in $780.7 million. Roblox (RBLX) shares are diving after reporting wider-than-expected losses in its second-quarter earnings.
Yahoo Finance Video Roblox needs to learn from 'the Andy Jassy playbook' after Q2 earnings: Analyst
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