Historically, tech stocks have tended to be more volatile than those in other sectors. One case in point is the performance of Roblox (NYSE: RBLX) on Wednesday; the stock initially dipped after the company reported quarterly earnings, before sprinting to close well into positive territory at 7.5%. By contrast, the S&P 500 index inched up less than 0.5% today.

For the first quarter, revenue clocked in at just over $655 million, representing 22% growth over the same period of 2022. That was on the back of total bookings that climbed 23% higher to nearly $774 million.

On the other hand, the company's net loss under generally accepted accounting principles (GAAP) deepened. It was $268 million ($0.44 per share), against the $160 million shortfall in the year-ago quarter.

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Source Fool.com