Sam Boughedda

Investing.com — Roblox Corp (NYSE:) shares are down 11.6% despite the online game platform’s metrics in November, showing a rise year on year.

Roblox shares trade for $95.17 at the moment.

Monthly active users rose 35% to 49.4 Million, an increase of 35% over the prior year. Hours spent were 3.6 Billion, which is up 32% over the previous year.

Bookings are estimated to have been between $211 million and $208 millions, an increase of 22% to 24 percent year-over-year. The average daily bookings for active users were $4.21 to $4.27. This is a decrease of 8% to 9. Roblox anticipates that revenue will range between $184 and $187 millions, which could lead to a rise in 84% or 87%.

Some may have expected to see a more muted reaction, even if it was slightly positive with most of the data from last year. But the actual numbers revealed were not as expected. Drew Crum of Stifel forecast November bookings around $220 Million.

Crum stated in an investor note that results came in slightly less than expected and seemed to be following the historical trend line in which November experiences a small sequential rise compared to October.

This update will bring down shares, we believe. He added that December is the seasonally most important month in CY4Q. Therefore, we don’t make any adjustments to our estimates at this time.