Good morning - still not feeling great this morning, but going to power through. QQQs flattish to start the day. Yields ticking up 2-3bps across the curve. BTC +1.5%. China +1.3%
We’ll hit up earnings recaps first (RBLX, QCOM, SWKS, ARM) then move onto News/Research. Let’s get to it…
RBLX -20%: Misses bookings and DAUs
Expectations were pretty high heading into the print so the bookings/DAU miss won’t be taken well, despite Q1/FY25 bookings guide looking ok and mgmt noting in the letter than bookings exited the Q at 25% which has continued through Q1
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