Roblox stock fell following the departure of its technical director for other horizons, according to Investing.com
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Shares of Roblox Corporation (RBLX) fell on Friday following news that CTO Daniel Sturman had resigned.
Sturman informed Roblox of his intention to resign on February 13, and his departure from the company will be effective May 21, 2024, as he plans to pursue new professional opportunities.
“Roblox Corporation expresses its gratitude to Mr. Sturman for his commitment and contribution to the company and wishes him all the best for his future professional activities,” said the company, which specializes in online gaming platforms and tools. Specializing in Game Development.
Shares of Roblox were down more than 2.6% shortly after the market opened on Friday, with each share trading at $43.27.
Earlier this month, Roblox reported profits and bookings revenue that beat consensus forecasts for the final quarter of the year. The company reported fourth-quarter earnings per share (EPS) of negative $0.52, beating analysts’ consensus estimates of negative $0.55 EPS by $0.03. Booking revenue for the quarter was reported at $1.13 billion, beating the consensus estimate of $1.07 billion.
For fiscal year 2024, Roblox expects its revenue from bookings to be between $4.14 billion and $4.28 billion.
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