Roblox forecasts quarterly bookings below estimates

Roblox forecasts quarterly bookings below estimates July 30 : Gaming platform Roblox forecast quarterly bookings below Wall Street estimates on Thursday, as tougher age-verification measures weighed on user onboarding and engagement. Shares of the company fell 11 per cent in after-hours trading. The company has implemented age verification to bolster player safety, but the added steps have made it harder to sign up and reduced access to certain features that help keep users engaged. "To date, the short-term impact from Kids and Select on engagement and bookings has been in line with our expectations, and we have seen an increase in age-check penetration in younger cohorts," the company said. The company, which allows users to build and explore their own digital worlds on its platform, expects bookings between $1.58 billion and $1.65 billion in the third quarter, compared with estimates of $1.77 billion, according to data compiled by LSEG.