Shares of Roblox pop 11% after company’s third-quarter results beat estimates
Shares of Roblox closed up more than 11% on Wednesday after the company released third-quarter results that beat on the top and bottom lines and showed strong user growth.
Here’s how the company did:
- Loss per share: 45 cent loss vs. 51 cent loss expected by LSEG, formerly known as Refinitiv
- Revenue (bookings): $839 million vs. $830 million expected by LSEG
The revenue figure is what Roblox calls bookings, a category that includes sales recognized during the quarter and deferred revenue. Bookings rose by 20% year over year. Roblox reported $702 million in bookings in the year-ago quarter.
The company generates revenue from sales of its virtual currency called Robux, which players use to dress up their avatars and buy other premium in-game features.
Roblox reported 70.2 million average daily active users, up 20% from a year earlier. Users spent more than 16 billion hours engaged in Roblox during the second quarter, up 20% year over year.
The company reported a net loss of $277.2 million for the quarter, which ended Sept. 30. Roblox reported a net loss of $297.8 million for the same period in 2022.
source: https://www.cnbc.com/2023/11/08/roblox-rblx-q3-earnings-2023.html