Roblox Shares Plunge by 21% as Daily Users Drop Off

Roblox Corp. plunged by 21%, the most in nine months, after the company reported that people spent less time playing its video games in the second quarter.

Roblox customers spent 14 billion hours on the platform in the three months ended June 30, below the 14.4 billion that analysts expected. The number of daily active users, at 65.5 million, fell about 1% from the first quarter. That number also missed analysts’ expectations and threw into question whether Roblox is capable of achieving its ultimate goal of reaching a billion users.