RTTNews | Aug 17, 2021 07:04AM EDT

07:04 Tuesday, August 17, 2021 (RTTNews.com) - Shares of video game developer Roblox Corporation (RBLX) are down more than 6% in pre-market on Tuesday.

Monday the company announced its decision to acquire privately-held Guilded, Inc. a chat app designed for gaming communities. The company did not disclose the purchase price.

Roblox said Guilded will continue to operate as an independent product group.

Additionally, Roblox on Monday reported 127% year-over-year increase in its second quarter revenue to $454.1 million.

Net Loss for the second quarter was $140.1 million or $0.25 per share, wider than net loss of $71.52 million or $0.40 per share in the same quarter a year ago, on higher expenses.

RBLX closed Monday's regular trade at $79.57, down 5.23%. The stock is currently at $74.40. It has been trading in the range of $60.50 - $103.87 in the last 52 weeks.

Read the original article on RTTNews ( https://www.rttnews.com/3219272/roblox-slips-6-on-news-of-acquisition-of-guilded-wider-net-loss.aspx)

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