For example, Roblox recently opened a new data center in India to support the rapid growth happening in the region. Management's actions continue to point to more growth. However, it's a still a good bet that Roblox's best days are still ahead. In June, the company estimated that bookings for the month of May fell between 9% and 11% year over year. That trend worsened in April, with bookings accelerating the decline to between 8% and 10% year over year. Roblox reported revenue growth of 39% year over year in the first quarter, but bookings, a non-GAAP (adjusted) measure of revenue, fell 3%. Other beaten-down growth stocks were trading higher, including Meta Platforms, Snowflake, and Netflix. There was no company-specific news to explain Roblox's bounce today. Electronic Arts and Take-Two Interactive were slightly up, while the S&P 500 index was down 1.6%. It's notable that other video game stocks were also trading higher. Shares of Roblox (NYSE: RBLX) were up 9.7% as of 12:06 p.m.
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