Universal Music Group Record Low; Roblox Slumps | Stock Movers

Universal Music Group shares fell to their lowest level since the company's listing after reporting subscription revenue growth of 16.6% in constant currency, below analyst expectations of 19.2% growth. Roblox shares declined following second-quarter results that fell short on user metrics and hours engaged, along with weaker-than-expected guidance for bookings and revenue. Reddit shares fell despite projecting current-quarter revenue above Wall Street estimates, after the company did not announce new data licensing agreements.

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