The gaming industry slowdown continues. Roblox stock is down -30% in pre-market trading after missing Q1 expectations ($801M in revenue vs $918M expected) and cutting revenue estimates for the year from $4.28B to $4.1B.
The gaming industry is suffering from a post-COVID & post-ATT hangover. There are too many sources of entertainment competing for people’s attention and acquiring new mobile users is worse now than it was a few years ago thanks to Apple’s ATT.
