5 Media and Internet Stocks to Watch After Latest Earnings

4. Roblox Corporation (NYSE:RBLX)

Number of Hedge Fund Holders: 40

Roblox Corporation (NYSE:RBLX) announced weak financial results for the second quarter. Its shares initially fell nearly 12 percent on Wednesday morning. However, the stock managed to recover its lost value by the end of the trading session on August 10.

The video game developer reported a loss of 30 cents per share, wider than analysts’ average estimate for a loss of 21 cents per share. Total bookings for the quarter decreased 4 percent versus last year to $639.9 million, while analysts were expecting Roblox Corporation (NYSE:RBLX) to report bookings of $644.4 million.

Among other updates, Roblox Corporation (NYSE:RBLX) said that average daily active users rose 21 percent to 52.2 million in the quarter, while hours engaged jumped 16 percent to 11.3 billion.