Roblox Guided Bookings Down as Much as 18% and Withdrew Its Full-Year Outlook. The Algorithm Change Behind It Was Deliberate.
Roblox (RBLX -26.85%) told investors Thursday to expect third-quarter bookings of $1.576 billion to $1.653 billion, a decline of 14% to 18% from a year ago. It also declined to offer a full-year outlook, accelerating a planned shift to quarterly only guidance. Shares fell about 27% Friday, hitting a fresh 52-week low near $34. Management…