Roblox soars as it reports that revenue doubled in third quarter

- Advertisement -

  • Revenue excluding deferred revenue doubled in the quarter, Roblox said.
  • The pop helped raise Roblox’s share price by more than 60% since its debut in March.

- Advertisement -

Shares of video-game company Roblox rose up to 35% in extended trading on Monday after the company reported third-quarter results that stunned analysts.

- Advertisement -

Here’s how the company did it:

  • Earnings: Loss of 13 cents per share.
  • Earnings (Bookings): According to Refinitiv, $637.8 million, adjusted, versus $636.5 million expected by analysts.

Bookings in the quarter grew 28% year over year. Revenue excluding deferred revenue came in at $509.3 million, up 102% year over year, a . According to Statement. Revenue was up 127% in the previous quarter.

- Advertisement -

“It is clear that even as users revert to pre-pandemic routines and behavior, Roblox remains an important part of their day,” the officials wrote in a statement. letter to shareholders.

Roblox was founded in 2006 and is known for providing entertainment to kids. According to the shareholder letter, 28% of the top 1,000 experiences people played in Roblox in the third quarter were most users at least 13 years old, up from 10% in the year-ago quarter.

The company’s net loss widened to $74 million from $48.6 million in the year-ago quarter.

Roblox said it had more than 47.3 million average daily active users in the third quarter, up 31% year over year and up from 43.2 million in the second quarter.

The game was unavailable between October 28 and October 31, which falls in the company’s fourth quarter. According to the shareholder letter, the incident resulted in a drop in actual daily active users, as well as $25 million in lost bookings, excluding $6 million in bookings that occurred during the outage, for which Roblox developers were not compensated.

The executive will discuss the results with analysts on a conference call Tuesday at 8:30 a.m. ET.

The after-hours move gave Roblox stock a premium of more than 60% from its $64.50 price, which began trading in March following a direct listing on the New York Stock Exchange.

Watch: Roblox Shares Fall on Major Weekend Outage


- Advertisement -

Stay on top - Get the daily news in your inbox

DMCA / Correction Notice

Recent Articles

Related Stories

Stay on top - Get the daily news in your inbox